Cadbury chief completes top team
CADBURY Schweppes' aggressive new chief executive Todd Stitzer today finalised his top boardroom line-up with the appointment of a new finance director, former Dalgety boss Ken Hanna.
The hiring completes the radical shake-up of the board started by chief executive John Sunderland's controversial move into the chairman's role.
Hanna replaces finance chief David Kappler, who retires in April. Final details on Hanna's pay are still being finalised but he is expected to pick up a salary of about £455,000.
He is best-known for his dramatic corporate restructuring of the Dalgety foods empire, which included £1.3bn of disposals.
That experience will be useful for the American Stitzer, who has big cost-cutting plans, including the loss of 10% of the confectionery and soft drinks group's 55,000 staff.
Hanna's appointment marks his return to the public arena after four years in venture capital. He left Dalgety to join private equity firm Compass Partners International in 1999.
