S&N Retail boss 'no' to chief executive race
Scottish & Newcastle Retail boss Bob Ivell has ruled himself out in the race for the top job at S&N.
The company is searching for a replacement for executive chairman Sir Brian Stewart and Mr Ivell had been identified as a potential replacement.
But speaking to thePublican.com, Mr Ivell said he intended to remain in retailing. "I'm not sure my skills are appropriate for an international drinks group," said Mr Ivell.
"I am a retailer and that is where my skills are. You have to know what you are good at. General management can be applied to many different types of business and I obviously have some understanding of the brewing operations from sitting on the main board, but retailing is what I love."
Mr Stewart is due to retire this year and the vacant role represents one of the biggest in the global brewing business.
The company plans to announce a successor by Easter - April 20.
Three internal candidates remain in the frame: Ian McHoul, the finance director; John Nicolson, chairman of the international brewing arm; and John Dunsmore, the managing director of Scottish Courage.
David Hazelwood, Heineken's finance director, is considered a worthy candidate but the Dutch brewer would be reluctant to lose him to a rival.
Another possible replacement for Mr Stewart, John Brock, was recently snapped up by Belgian competitor Interbrew. S&N is understood to have scoured a range of fast-moving consumer goods industries for a successor.
S&N is looking for a leader to shadow and then succeed Sir Brian, who intends to step down to a non-executive position once the right man is found.
"I'm not party to the recruitment process for obvious reasons," commented Mr Ivell.
"It's a process that our non-executive directors are going through at the moment. It will take as long as it takes to find the right person."
Meanwhile, the company is still working on its refinancing plan that will see it sell the freeholds of 700 pubs in a sale-and-manage-back deal, probably with the Royal Bank of Scotland. It expects to make an announcement next month.
