UK: Scottish & Newcastle insists board structure not changing

Scottish & Newcastle, the Edinburgh-based brewing group, dismissed reports that it was looking for a replacement for its chairman Brian Stewart, Edinburgh News reported June 2.

Reports over the weekend suggested Mr Stewart was looking to step down and take a back seat role with S&N. But today a spokeswoman for the firm dismissed the reports as "speculation" and said: "We are happy with the [board] structure we have."

Stewart, 56, who has four years to go until retirement, also sits on the board of Edinburgh-based Standard Life.

The reports suggested S&N was looking for someone with more experience of international marketing to fill Mr Stewart’s shoes and make S&N’s beers truly international brands.

S&N has been criticised in some quarters for being slow to react to sector trends, where many of the world’s biggest beer giants, such as Heineken and Interbrew, the makers of Stella Artois, have off-loaded their pub chains to concentrate on brewing . S&N has stuck to its model of brewing, pubs and restaurants, including the Chef & Brewer, Henry’s and T&J Bernard chains.

Mr Stewart, who was paid £703,000 last year, joined S&N in 1976 before joining the company’s board 12 years later when he was made finance director. In July 2000, he became executive chairman and in August 2000 he was appointed executive chairman.

03 June, 2008