Cadbury appoints new CFO

Andrew Bonfield has left drug maker Bristol-Myers Squibb to become been chief financial officer of confectionery giant Cadbury from February next year.

Bonfield was CFO at Bristol-Myers Squibb. Before that he was executive director of finance at BG Group, the oil and gas exploration company, and CFO at SmithKline Beecham, prior to its merger with Glaxo Wellcome, to form GlaxoSmithKline.

'I am very pleased to be joining Cadbury at an exciting time in the company's development,' Bonfield said in a statement. 'It has an outstanding portfolio of chocolate, gum and candy brands, a broad developed and emerging market footprint and a clear strategy to create shareholder value. I look forward to working closely with Todd and the team to achieve their goals.'

In a trading statement today Cadbury said that 'despite weakening economic conditions in the fourth quarter, the group as a whole has performed in line with expectations.'

Cadbury's results for 2008 will be announced on 25 February.

Further Reading:

Overview: who is going to replace Cadbury's CFO

Chocs away as Cadbury CFO announces resignation