Workers shocked as UK knights man who sold Cadbury
01 Jan 2011
In probably the most controversial entry into Britain's New Year Honours list, Roger Carr, the tycoon who saw through the sale of Cadbury, the 200-year-old British company, to US multinational Kraft, in February, has been knighted for services to industry.
Sir Roger was praised by the City for getting a good deal for shareholders when the Cadbury sale went through in February. Since then, Kraft has announced that it is moving the firm's headquarters to Switzerland to avoid UK tax, at a probable cost of thousands of UK jobs.
The award is doubly controversial because Sir Roger also chairs Centrica, the parent company of British Gas, which recently announced a 7 per cent price hike. Soon after that announcement, Centrica raised its full year profit forecast to more than £2.2 billion.
The regulator, Ofgem, is holding an inquiry into whether major energy companies are "lining their pockets".
Trade union Unite said Cadbury workers would be "surprised and disappointed" by the knighthood awarded to the businessman who allowed the "iconic" confectionery firm to be sold to Kraft with resulting job losses.
"Under his leadership he allowed this iconic British company to be taken over by Kraft, a highly leveraged company that has already cut hundreds of jobs since taking over in February and which will undoubtedly be looking for further cuts to help pay down their huge debts.
