CADBURY PLC - Statement re Board Changes and Strong Performance
May 15, 2008 (PR Newswire Europe via COMTEX News Network) --
15 May 2008
Cadbury plc Announces Board Changes and Expects Strong First Half Performance
Cadbury plc ("Cadbury") yesterday held its first Board meeting following the
demerger of Americas Beverages and today announces the appointment of Guy
Elliott, currently Chairman of Cadbury's Audit Committee, as Senior Independent
Director when Roger Carr becomes Chairman on 21 July 2008. The Board also
announces that Bob Stack, executive director and Chief Human Resources Officer,
intends to retire at the end of the year and leave the Board at that time. The
Board has commenced a search for two new non-executive directors, one of whom
will be appointed Chairman of the Audit Committee.
Sir John Sunderland, speaking after his last Board meeting, said: "Following
the demerger, I am very pleased to confirm that the new company is off to a
strong start with revenues in the first half expected to be above the top end
of our goal range and trading margins around 150 basis points ahead. This
performance reflects the combination of increased marketing investment, higher
pricing and successful early execution of our cost reduction initiatives.
"I'm delighted to be leaving the company in such good hands, with Roger Carr
taking over as Chairman and Guy Elliott taking on the role of our Senior
Independent Director. I wish Todd, the executive team and all our employees
continued success and good fortune in the future."
Ends
For further information contact:
Cadbury plc + 44 20 7409 1313
http://www.cadbury.com
Capital Market Enquiries +44 20 7830 5124
Sally Jones
Media Enquiries
Maitland + 44 20 7379 5151
Philip Gawith
Forward Looking Statements
Except for historical information and discussions contained herein, statements
contained in these materials may constitute "forward looking statements" within
the meaning of Section 27A of the US Securities Act of 1933, as amended, and
Section 21E of the US Securities Exchange Act of 1934, as amended. Forward
looking statements are generally identifiable by the fact that they do not
relate only to historical or current facts or by the use of the words "may",
"will", "should", "plan", "expect", "anticipate", "estimate", "believe",
"intend", "project", "goal" or "target" or the negative of these words or other
variations on these words or comparable terminology. Forward looking statements
involve a number of known and unknown risks, uncertainties and other factors
that could cause our or our industry's actual results, levels of activity,
performance or achievements to be materially different from any future results,
levels of activity, performance or achievements expressed or implied by such
forward looking statements. These forward looking statements are based on
numerous assumptions regarding the present and future strategies of each
business and the environment in which they will operate in the future. In
evaluating forward looking statements, you should consider various factors
including the risk factors outlined in our Form 20-F filed with the US
Securities and Exchange Commission and Circular and Prospectus filed with the
UKLA on 19 March, 2008 and posted on Cadbury plc's website www.cadbury.com.
These materials should be viewed in conjunction with our periodic interim and
annual reports, registration statements and other filings filed with or
furnished to the Securities and Exchange Commission, copies of which are
available from Cadbury plc, 25 Berkeley Square, London W1J 6HB, UK and from the
Securities and Exchange Commission's website at www.sec.gov. Cadbury plc does
not undertake publicly to update or revise any forward looking statement that
may be made in these materials, whether as a result of new information, future
events or otherwise. All subsequent oral or written forward-looking statements
attributable to Cadbury plc or any person acting on their behalf are expressly
qualified in their entirety by the cautionary statements above.
Notes to Editors:
About Cadbury plc
Cadbury plc is the world's largest confectionery business with number one or
number two positions in over 20 of the world's 50 largest confectionery
markets. It also has the largest and most broadly spread emerging markets
business of any confectionery company. With origins stretching back nearly 200
years, Cadbury's brands include many global, regional and local favourites
including Cadbury, Creme Egg and Green and Black's in chocolate; Trident,
Dentyne, Hollywood and Bubbaloo in gum; and Halls, Cadbury Eclairs, Bassett's
and the Natural Confectionery Company in candy.
About Guy Elliott
Guy Elliott, 52, was appointed to the Board of Cadbury Schweppes plc in July
2007. He is Finance Director of Rio Tinto plc and Rio Tinto Ltd. He has
extensive international commercial and financial experience.
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Copyright (C) 2008 PR Newswire Europe


