When Todd Stitzer stood up to present Cadbury’s 2007 performance to the market, he was on his heels – profits had come in below expectations, the beverages part of the business was dragging down the core confectionery operations and and he had spent months fending off investor ire.

One year on and the chief executive was a different man; resplendent in a Cadbury-colour tie (purple with white spots), Mr Stitzer vaunted a healthy set of results for the chocolate maker, now split off from the Dr Pepper Snapple drinks arm.