Irish drinks group C&C, the maker of Magners cider, has appointed Scottish & Newcastle head John Dunsmore to replace outgoing chief executive officer Maurice Pratt.
The news sent shares in the company up over 26 per cent to €1.45 by 1.25pm.
Stephen Glancey, a former operations director at Scottish & Newcastle, has been named as chief operating officer and both he and Mr Dunsmore will join the C&C board immediately.
Kenny Neison, also joins C&C from Scottish & Newcastle and has been appointed strategy director.
In a statement C&C said the remuneration package for the appointees will include a "high element of share-based incentive".
"The scheme to facilitate this (which allows for other executives to participate) involves the issue of up to 16 million new shares at a price of €1.15, being the closing price on November 7th, 2008, a 10 per cent initial capital contribution from participants and a market performance vesting condition", according to the statement.
Tony O'Brien, C&C Chairman said the three men would bring a renewed impetus and momentum to the group.