Bill Ronald hands in his notice as Fevertree chair

Soft drinks and mixers specialist Fevertree announced on Tuesday that Bill Ronald would retire as chairman and step down from the board at its annual general meeting in May next year.

The AIM-traded firm said Ronald was appointed to the board as chairman in June 2013, ahead of its initial public offering in November 2014.

“On behalf of the company, I would like to thank Bill for his commitment and dedication to Fevertree over the past nine years in which time he has made a real and lasting contribution to our success,” said co-founder and chief executive officer Tim Warrillow.

“I have always greatly appreciated his passion for the business and his unwavering good nature and whilst I look forward to 12 more months of working closely together, he will be much missed.”

The company said the nomination committee, led by senior independent director Coline McConville, would start a process to identify and appoint Ronald’s successor, with a further announcement to be made in due course.

Ronald would remain in his position until the annual general meeting in 2023, to allow for effective succession planning.

“It has been a privilege to serve as chairman of Fevertree during a truly transformative time for the brand,” Bill Ronald said.

“There is a fantastic team in place across the globe, and I have no doubt it has a hugely exciting future ahead of it.”

At 1019 BST, shares in Fevertree Drinks were down 2.15% at 1,776p.