IN BRIEF: Chapel Down names ICAP founder Michael Spencer as new chair

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Chapel Down Group PLC - Kent, England-based still and sparkling wine maker - Names Michael Spencer as board chair, replacing Martin Glenn in September. Glenn has been chair since 2020. Spencer is the billionaire founder of interdealer broker ICAP. Via his investment vehicle IPGL, Spencer is the largest shareholder in Chapel Down with a 27.3% stake. ‘Martin has made an invaluable contribution to Chapel Down, helping guide the business through a period of remarkable progress,’ Spencer says. ‘I look forward to continuing to build on this momentum.’

Chapel Down also hires Simon Litherland as an independent non-executive director. Litherland was chief executive officer of soft-drinks maker Britvic PLC from 2013 to earlier this year, when it was purchased by brewer Carslberg AS.

Current stock price: 42.68 pence

12-month change: down 41%

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