SABMiller’s Mackay treated for brain tumour
Given that he stood at the helm of stock market-listed SABMiller, the brewer had to make a personal misfortune public knowledge for fear it might affect its share price negatively: its Chief Executive Graham Mackay has had surgery for a brain tumour. Therefore, he will be replaced by the group’s Chief Operating Officer Alan Clark with immediate effect.
Mr Mackay, who is aged 63, underwent surgery on 22 April 210, and his role will be kept “under review pending the outcome of his treatment,” SABMiller said in a statement on 23 April 2013. Mr Mackay had been due to take the position of Chairman in July, at the company’s annual general meeting. SABMiller announced the leadership change in April last year.
Because of Mr Mackay’s illness the board has accelerated the planned promotion of Chief Operating Officer Alan Clark to CEO.
Mr Mackay has led the brewer since it listed in London in 1999, overseeing a string of major acquisitions, the AUD 10.5 billion (USD 10.8 billion) takeover of Foster’s Group in 2011 being the latest.
In the light of his illness, several articles have focused on pointing out his past achievements, sadly making them sound like an antedated farewell.
Mr Mackay is widely credited with SABMiller’s phenomenal rise. During his tenure as CEO, the brewer’s share price has risen about eightfold, while sales have increased to USD 31.4 billion in the year ended 31 March 2012, giving the company a market capitalisation of USD 84.7 billion.
In a note to SABMiller employees, Mr Mackay said: “I am inexpressibly proud of this company, what it has achieved and the shape it is in. I certainly do not expect there to be any impact from this development on its operations or strategic direction, which will continue to run as normal.”
He added: “I obviously have an additional personal objective, and that is to get well as quickly as possible for the sake of my wife and children. Thank you all for your support.”
May his fighting spirit prevail during his illness.
