Shareholders approve Cadbury Schweppes demerger
April 14, 2008
by FoodBusinessNews.net Staff
LONDON — Shareowners of Cadbury Schweppes P.L.C. approved the company’s plans to demerge the Americas Beverages business after a vote was taken at the general meeting and annual general meeting.
"This is a historic day for Cadbury Schweppes with shareowners overwhelmingly voting to separate the confectionery and beverage businesses after 40 years together," said Sir John Sunderland, chairman. "Today’s decision is a key step in the strategic evolution of the company toward the creation of two world leading consumer goods companies. Cadbury P.L.C. and Dr Pepper Snapple Group are both well placed to flourish as independent companies. I am confident that the focus allowed by their separation will translate into improved performance and rewards for shareowners in the years ahead."
The demerger was passed by 99% or 1,386,728,147 votes.