Life is not so sweet for Cadbury’s FD

Andrew Bonfield

Life won’t be a box of chocolates for Andrew Bonfield, the finance director
of Cadbury’s, who is stepping down from his role as part of the company’s
takeover by Kraft.

Bonfield is not alone in his departure, he is joined by CEO Todd Stitzer and
chairman Roger Carr, who are all leaving for pastures new.

With questions asked about the value of the deal struck by the board, it will
be interesting to see the value of their personal stocks when looking for their
next jobs.

Bonfield has only served at Cadbury for a year but this is not the first time
he has stepped down due to a merger. He was previously chief financial officer
at SmithKline Beecham and relinquished his title when the pharma giant merged
with Glaxo Wellcome in 2000.

Two FDs are leaving engineering and industrial holding company Southern Bear.
David Pearson, the current FD, is retiring on medical grounds but will assist in
a handover to Michael Clough. Non-executive director and former Southern Bear FD
Neil McGowan also steps down. Clough steps up from the financial controller
role. He qualified with Deloitte and has also held senior finance positions at
Ruberoid and Tarmac.

PwC is beefing up its risk assurance division with the recruitment of Paul
Robertson. He will lead the crisis management and business continuity
departments. He has worked as a consultant for 13 years helping organisations to
develop business continuity and crisis management capabilities.

Former KPMG tax expert Richard Lovett has become the first non-lawyer partner
at Howes Percival. Lovett joined the law firm in 2001 as trust manager. He has
worked in land and property ownership tax for more than 30 years, including at
KPMG and Cozens-Hardy. He is also a founding member and past secretary of the
Society of Trust and Estate Practitioners, Norfolk and Norwich.

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