Tuesday November 3, 11:45 AM
UPDATE 1-McBride CEO resigns to join DS Smith
* Miles Roberts to succeed Tony Thorne as DS Smith CEO
* Roberts expected to join DS Smith in Q1 2010
* McBride (LSE: MCB.L - news)
shares down 6.6 pct; DS Smith up 2.2 pct
(Adds details)
Nov 3 (Reuters) - McBride, Europe's biggest maker of retailer own-brand household products, said on Tuesday its Chief Executive Miles Roberts resigned to join British paper and packaging group DS Smith as CEO.
Shares of McBride were down 6.6 percent at 205.5 pence, while DS Smith was up 2.2 percent at 117.8 pence at 1125 GMT on the London Stock Exchange (LSE: LSE.L - news) .
In a separate statement, DS Smith said CEO Tony Thorne will retire and Roberts was expected to take up his position in the first quarter of 2010.
McBride said it was looking for Roberts' successor both within the company and externally but did not expect any appointment until 2010.
McBride, which supplies supermarkets like Tesco (LSE: TSCO.L - news) and Carrefour (CA.NX - news) with own-label goods ranging from dishwasher tablets to deodorants, had in August named Richard Armitage as its new finance director after Ian Johnson resigned in April.
(Reporting by Aditi Samajpati in Bangalore; Editing by Vinu Pilakkott) Keywords: MCBRIDE/
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