Cadbury CFO steps down

Cadbury announced yesterday that Ken Hanna, Executive Director and Chief Financial Officer, has informed the Board of his decision to step down from the Board in April 2009 after five years with the company.Ken has confirmed that it is his intention to pursue a number of non-executive appointments, including at Inchcape plc, which today has announced his appointment as Chairman with effect from May 2009.  Inchcape is a UK listed FTSE 250 international car retailer with operations in 25 countries. Ken has been on the Board of Inchcape since 2001.

Roger Carr, Chairman of Cadbury said: “On behalf of the Board, I would like to thank Ken for the outstanding contribution he has made to the group as Chief Financial Officer. He has played a central role as we have radically restructured the business both from an operations and a portfolio perspective.”

Ken Hanna, Chief Financial Officer of Cadbury said: “It has been a privilege to serve on the Cadbury Board and to work alongside Todd and the rest of the executive team. I have every confidence that, as a focused confectionery company, Cadbury will deliver on its full potential. I will remain committed to the Company’s success while completing a smooth handover to my successor next year.”

An external search for Ken Hanna’s replacement has commenced.