C&C Group CEO Patrick McMahon resigns after €17m accounting adjustments lead to £111m pre-tax loss.
C&C Group CEO, Patrick McMahon, has resigned following a series of significant accounting adjustments, totaling €17 million, that have been traced back to when he was the chief financial officer. The accounting errors resulted in a pre-tax loss of £111 million for the year ending February, compared to a profit of £52 million in the prior year. Ralph Findlay, C&C's chairman, has taken over as the interim CEO while the company searches for a permanent successor.
June 07, 2024
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