Veteran Fevertree chairman announces retirement
Longstanding Fevertree Drinks chairman Bill Ronald has announced he will be retiring in May next year.
Ronald joined the premium tonics and drink mixer maker in June 2013 ahead of Fevertree’s debut on the London Stock Exchange the following year.
He has given a year’s notice to allow the company to start looking for a successor ahead of Fevertree’s annual general meeting in 2023.
Fevertree is listed on the Alternative Investment Market and has become a close contender to Coca-Cola’s Schweppes.
Whilst the firm has grown immensely, shares have dropped 31 per cent in 2022, largely due to the company’s upcoming difficulties, including surging commodity prices amid Russia’s invasion of Ukraine.
Tim Warrillow, co-founder and CEO of Fever-Tree, said in March that the war in Ukraine had “resulted in significant uncertainty in relation to our input costs in the short term.”
However, the company’s UK revenue jumped 15 per cent to £118.3m in full year results to 31 December.