NEW YORK TIMES, By MARION UNDERHILL
After 14 years as chairman of Cadbury Schweppes P.L.C., Sir Adrian Cadbury is stepping down. Sir Adrian, who will be 60 in April, the normal retirement age for directors, will formally take his leave after the annual meeting in May. He will be succeeded by Sir Graham Day, chairman of Rover Group P.L.C.
Canadian-born Sir Graham, who is 55, graduated from Dalhousie University in 1956 with a law degree and had a private practice in Windsor, Nova Scotia, until joining Canadian Pacific Ltd. in 1964. He resigned in 1971 to become chief executive of Cammell Laird Shipbuilders Ltd., in which the British Government had acquired a 50 percent stake. After just one year as deputy chairman and chief executive of the Organizing Committee for British Shipbuilders, Sir Graham declined to renew his contract and returned to Dalhousie as a professor in the Graduate Business School. Four years later, he joined Dome Petroleum for 21 months, as a vice president, to deal with financial and commercial issues in the marine sector.
In 1983, Sir Graham became chairman and chief executive of British Shipbuilders, following which, in 1986, he was appointed chairman and chief executive of British Leyland P.L.C., which later became Rover. After Rover’s takeover by British Aerospace P.L.C. last March, Sir Graham became a director. He handed over day-to-day control of Rover late in 1988 when he gave up his role as chief executive to concentrate on heading the board. He made a commitment at the time of the British Aerospace takeover to stay with the group for at least three years. He became a director of Cadbury Schweppes last year and is expected to divide his time between his two chairmanships and his other boardroom posts.
Sir Graham, whose knighthood was announced in the 1989 New Year’s Honors List, is married and has a son and two daughters.
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