News
Roger White steps down as AG Barr chief executive
White has announced he will resign as director and retire from the company within the next 12 months at a “mutually agreed date”. The drinks manufacturer said it would start looking for a successor immediately to ensure a smooth leadership transition.
Commenting on his departure, White said: “It has been a privilege and pleasure to lead the business for over two decades and now the time is right to plan for my succession and to ensure the continued success of the business.”
“I would like to pay tribute to everyone across the whole organisation who make A.G. Barr a very special place with amazing brands."
History at AG Barr
White joined AG Barr in 2022 as managing director and became the group’s first non-family chief executive in 2004. He is reportedly the company’s longest serving chief executive.
Mark Allen, AG Barr Chairman, added: “Roger has served the shareholders, Board, wider business and industry for over 21 years - this makes him one of the longest serving CEOs in the UK public market.
“He has supported the transformation of the business from a regional soft drinks business into a highly successful multi beverage, branded company that has delivered significant value to shareholders, stakeholders and employees. AG Barr has a strong culture and momentum and is strategically well placed to continue to deliver for the long term.”
News of White’s planned departure from AG Barr come as the drinks company announced sales and volume growth in its half-year trading updater for the 26 weeks ended 30 July 2023.
Financial results
Revenue for the first half of the financial year is expected to be £210m, up 33% from £157.9m reported in the same period last year – up 10% on a like-for-like basis, excluding the contribution from the Boost Drinks business acquired in December 2022.
AG Barr attributed this growth to underlying brand momentum, the benefit of higher pricing from early in the year and particularly good weather in June.
"In March we communicated that 2023/24 would be a year of investment across the business, supporting the Group's long-term revenue and profit growth ambitions,” said White. “I am pleased to report we have had a strong first half, despite ongoing macro cost challenges.
“Our medium-term plan to rebuild the Group's operating profit margin is progressing well across a range of activities, including supply chain optimisation, cost management and portfolio development.
“We have strong brand plans in place across the business for the balance of the year to sustain our growth momentum and we remain confident in the Group's long-term growth strategy.”
