ROBIN Barr is to step down from the board of AG Barr after serving as a director of the company for nearly 60 years.

Mr Barr, great-grandson of Barr founder Robert Barr, will not stand for re-election at the Irn-Bru maker’s forthcoming annual general meeting in May, it was announced this morning.

Mr Barr, who has served on the board for 58 years, was executive chairman of the soft drinks manufacturer from 1978 to 2009. He has been with the business for 62 years.

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Barr announced this morning that, as part of succession planning, Julie Barr will relinquish her duties as company secretary and will join the board as a non-executive director, subject to shareholder approval. Ms Barr, a qualified corporate lawyer and daughter of Robin Barr who has been with the company for 19 years, will stand for election at the AGM. 

AG Barr chairman Mark Allen said: “We are hugely indebted to Robin for all his years of service, not to mention the balanced and insightful guidance he has provided to the board as the business has developed across the last 60 years or so. I am delighted that Julie will join the board in due course and I am certain her experience and skills will complement and further strengthen our board capabilities.”

The announcement came as the company reported a 5.2 per cent rise in pre-tax profits to £44.4 million for the year ended January 29, on revenue up 18.2% to £317.6m.

Barr hailed the strength of its performance over a period that saw the company complete the acquisition of Boost Drinks and the remaining equity in MOMA Foods.

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Chief executive Roger White said: “Over the past 12 months we delivered an excellent financial performance and made significant progress across our strategic objectives, an achievement only made possible by our committed and hardworking teams.

“Our strategy to build and develop a multi-beverage portfolio capable of significant long-term growth is progressing well. We are now in an investment phase, designed to capitalise on the strategic growth opportunities ahead.

"We do anticipate a short-term impact on operating margins, as a result of the combination of this investment, ongoing inflationary cost pressures, and the initial dilutive impact from the Boost acquisition. This growth and investment phase will support the rebuilding of our operating margin over the medium term and the creation of a stronger and more sustainable business.”

Shares were trading 1.4% lower at 534.35p at 9.20am.