A.G. Barr said recently that its CEO of 19 years, Roger White, will step down in the next 12 months, with the Irn-Bru maker starting a formal succession process immediately.
White, 58, leaves at a time the UK firm has benefited from higher pricing, as well as strong trading performance across its soft drinks divisions.
The Cumbernauld, UK-headquartered group said White will resign as a director and retire from the company, which he joined in 2002 as managing director.
Annual Profit Performance
Separately, the company said it expects annual profit performance to be marginally above the top end of analysts' expectations.
A.G. Barr said that revenue for the first-half period ended 30 July was expected to be about £210 million ($269.4 million), a 10% growth on a like-for-like basis.
CEO White said that the group's medium-term plan to rebuild its operating profit margin was "progressing well".
Grappling With High Costs
A.G. Barr in March warned of an operating margin hit in the short term from inflationary pressures and acquisitions, even as the Irn-Bru maker forecast annual profit growth in line with its expectations.
Shares of the company were down about 1.5% in early trade, its trading results showed.
Beverage makers have been grappling with high costs of energy and raw materials, while consumers are also cutting back spending on non-essential items amid sticky inflation.