Kerry Group names new chief executive

The Irish company's also released its 2016 financial results

Kerry Group names new chief executive

Radio Kerry

Kerry Group, the Tralee-based global food science and consumer foods company, is getting a change at the top.

The group announced this morning that it’s chief executive since 2008, Stan McCarthy, is to step down from his role at the end of September.

In the long tradition of the Kerry Group, he will be succeeded by an internal candidate. Edmond Scanlon, currently President and CEO of Kerry’s Asia Pacific division, has been appointed group chief executive designate. He joined the company on a graduate programme in 1996 

The Group has announced a set of very solid annual financial results this morning. In the year to December, the Group’s operating or trading profit rose by just over 7% to €750m while global sales grew by 3.6% to €6.1bn on a constant currency basis and despite lower product prices in some markets 

The market is likely to respond positively to a particularly strong performance from the group’s largest division, taste and nutrition, which generates nearly five-sixths of sales and where trading profits rose by 8% 

Commenting on the results Kerry Group Chief Executive Stan McCarthy said: "The Group remains confident of its ability to sustain profitable growth throughout global markets. In 2017 we expect to achieve good revenue growth and 5% to 9% growth in adjusted earnings per share."