Stock Spirits reshuffles board of directors

24th October, 2016 by Kristiane Sherry

London-listed drinks group Stock Spirits has made a number of changes to its board, showing an “unwavering commitment to the business”.

Stock-Spirits-Group

Stock Spirits has reshuffled its board of directors with Tomasz Blawat, Diego Bevilacqua and Mike Butterworth all joining

Three men, Tomasz Blawat, Diego Bevilacqua and Mike Butterworth, are to join the board as non-executive directors. At the same time, Andrew Cripps is stepping down as senior independent director to be replaced by John Nicolson. All changes take place with immediate effect.

Blawat is currently CEO at Carlsberg Poland and has previously held senior roles at ING, SAB Miller and Procter and Gamble. Blawat is a Polish national and also speaks fluent Czech.

Bevilacqua joins the board with over 40 years’ experience in the food and beverage sector. He recently served as a senior advisor to Bain & Company, and has previously worked in senior positions at Metro AG and Unilever. He has served as a non-executive director of both Danisco AS and Pepsi Lipton International.

Butterworth is a chartered accountant and was formerly group finance director of Cookson Group before commencing a non-executive career in 2012. He currently holds the position of chairman of the Audit Committee at both Johnston Press and St Ives Group, where he is also senior independent director, and serves on the Board of Cambian Group.   His previous include senior roles at Incepta Group and BBA Group.

Cripps has sat on the Stock Spirits board since the company was listed on the London Stock Exchange in October 2013. He served as chairman of the Audit Committee since joining the Board, and as senior independent director since November 2015. New senior independent director Nicolson has also served on the Board since the IPO.

Stock Spirits says the board’s Audit, Remuneration and Nomination Committees are now fully compliant.

“I am delighted to welcome Tomasz, Diego and Mike to the Board,” said David Maloney, chairman of Stock Spirits.

“The vast array of industry experience and knowledge that they bring with them will be hugely beneficial as the company continues to develop. The Board are all excited at the prospect of working together for the benefit of Stock’s customers, consumers and investors.

“I would also like to thank Andrew for all his hard work and commitment since joining the company in 2013. His expertise and counsel have been invaluable. We are also extremely fortunate to have John Nicolson to take the position of senior independent director.

“Stock Spirits has seen a lot of change since its IPO three years ago, and these latest appointments should be taken as a clear sign of the Board’s unwavering commitment to improving the business. Our team may have evolved but the underlying philosophy remains the same, which is to apply best practice international drinks industry skills to the Central and Eastern European spirits market.”

Earlier this month Stock Spirits acquired Prazska vodka, Nordic Ice and Dynybyl gin from Bohemia Sekt for CZK135 million (US$5.5m) as it looks to strengthen the business in the Czech Republic.

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