Monday, December 12, 2022 7:15 am
Fevertree appoints Domenic De Lorenzo as Chairman of Tonic Water Giants.
De Lorenzo will assume the role following the London-listed beverage company’s annual shareholder meeting in May 2023.
He will take over the reins from Bill Ronald, who was appointed chairman in 2013 and oversaw the company’s debut on the stock market the following year.
De Lorenzo is a certified public accountant and previously served as chief financial officer and director of brewing giant SAB Miller.
He has been a Non-Executive Director on Fever Tree’s Board of Directors since May 2018.
In September interim results, Fever-Tree posted Adjusted EBITDA of £22m, down 24.7% compared to £29.2m in the first half of 2021.
The beverage company said its gross margins were hit by “cost pressures from inflation and continued exposure to higher transatlantic shipping costs.”
However, sales climbed to £160.9m, up 14%, after pubs and bars showed “promising signs of recovery and demand remains strong” after Covid restrictions eased in various markets. increased.
