DAVY VIEW

In an unexpected development, C&C has announced that Stephen Glancey, its group CEO, has informed the Board of his intention to retire. He will step down as CEO with immediate effect. Stewart Gilliland has been appointed interim Executive Chairman. Glancey oversaw significant change at the group over a long period and was the architect of C&C’s vertically integrated strategy. He had the strategic foresight and confidence to effect the Matthew Clark transaction, which has transformed the equity story. He leaves the business against a backdrop of positive operating momentum with a platform that has enhanced potential.