Carlsberg rebuke means tighter IR staff regulation

Carlsberg is to impose stricter regulation on its investor relations staff, after being rebuked for leaking profit details to selected analysts.

The Danish brewer demoted chief financial officer Jesper Baernoldt to unspecified 'other tasks' after his IR department told analysts their profit forecasts were too high, two days before announcing the details to the market.

Having appointed former Coca-Cola Nordic Beverages CFO Per Brondum Andersen in Baernoldt's place, public affairs director Margrethe Skov said the firm was overhauling the rules governing its IR staff: 'We're working hard to formulate new rules. For example, for at least one month before the publication of our results, IR staff will have no contact whatsoever with analysts,' she said.

Carlsberg was last week condemned by Denmark's stock exchange authorities for breaching market rules: 'Listed companies must ensure all market participants are treated equally in respect of the information the company provides.(Carlsberg) has violated its duty of ensuring the entire market has equal access to price-relevant information.'

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