What will happen to Cadbury chief financial officer Andrew
Bonfield now that Kraft has sealed the deal to buy the business? Financial
Director reckons he may be finding himself without a position as Kraft CFO
Timothy McLevish absorbs his responsibilities.
The iconic confectionary company’s acquisition by the Dairylea-to-Oreo’s
business puts Bonfield squarely in the ‘potential layoffs’ spotlight because it
is likely that the combined business won’t require two CFOs and will put Kraft’s
finance head McLevish in charge.
Bonfield, who says his favourite Cadbury products are Dairy Milk and
sugar-free Cherry Halls, only started the job last February so he might be
feeling a little cheesed off – though he will probably find another opportunity
given his experience. He joined from US-based pharmaceutical giant Bristol
Myers-Squibb where he had been CFO for seven years and was previously CFO at
SmithKline Beecham for three years, joining in 1998.
Asked what might happen to Bonfield, a spokesperson for Cadbury’s told
Financial Director: “Ask Kraft.”
OTHER PEOPLE NEWS…
Illness marrs Japan and Ireland FD’s work
Ill health struck the finance heads of Japan and Ireland this month. Brian
Lenihan, Ireland’s finance minister, will remain in office while being treated
for cancer at the request of prime minister Brian Cowen. Meanwhile, Japan’s
finance minister Hirohisa Fujii resigned on the advice of his doctors because of
the stress he suffered while the country slipped further into debt. It is
possible that Fujii will remain in the Cabinet until this summer to help push
through its Budget. Fujii had already wanted to retire from political life, but
was persuaded into staying on for Japan’s election last year.
Redrow gets female FD
Housebuilding company Redrow starts the year with the appointment of a new group
FD. Barbara Richmond joins from Inchcape and increases the ranks of female FDs.
Richmond has been group FD of Croda International, a global speciality chemicals
company and Whessoe, an engineering and electronics business. Richmond replaces
David Arnold who announced his departure at the end of 2009. The appointment is
the latest change in the management team following the return of the company
founder, Steve Morgan.