Former Bailey's boss Mr Frank Fenn is to join DCC plc in a management shake-up at the industrial group.
The Dublin and London-listed company's chief executive, Mr Jim Flavin, yesterday announced five management changes at the group. The move anticipates the retirement of Mr Morgan Crowe as a member of the board and managing director of DCC's healthcare division.
DCC executive director Mr Kevin Murray will succeed him in that post, and stay on as managing director of the group's environmental services business, which is to be established as a separate division. Mr Murray is currently head of its energy and food and beverages divisions.
The only newcomer to the group, Mr Fenn, will step into his shoes as managing director of food and beverages. He has been chief executive of R&A Bailey, owner of the successful cream liqueur brand, since 1998.
In a statement yesterday, DCC said that under his charge Bailey's had risen from being the thirteenth to the eighth spirits brand in the world. Mr Fenn left Bailey's recently and had been due to take a new post as managing director of Diageo's operation in Korea.
One analyst yesterday said that Mr Fenn's appointment did not necessarily signal expansion in the food and drinks division. He argued that the group would be more likely to focus on its healthcare and energy businesses for expansion. The company's statement said Mr Fenn would drive the growth of its brands.
Mr Tommy Breen will move to the group's energy division from its IT business, SerCom, in April, while Mr Donal Murphy will take over the technology operation.
Analysts did not attach huge importance to the changes, but one pointed out that when Mr Flavin ultimately steps down, his successor is likely to come from one of the four divisional heads. "Some of them look like they are being moved to get experience of different divisions," one market watcher said.
Mr Flavin said in a statement that the appointments would further enhance the strength and depth of DCC management. DCC is the ultimate parent of a diverse group of businesses with operations in Ireland, Britain and the continent.
