BULMERS chairman Esmond Bulmer, who has retired after serving the family cider firm for 40 years, has raised a glass to his successor Will Samuel.

Mr Samuel, aged 48, has been a non-executive director of the Hereford firm for 10 years.

He is joint group managing director, investment banking, at Schroders, the London merchant bankers.

As chairman, Mr Samuel will be leading Bulmers towards its vision of becoming a £1bn turnover company with an international network in the long alcoholic drinks market.

Esmond Bulmer, whose grandfather Percy started the cider dynasty in 1887, will remain a member of the board of directors.

"At no time in the past have I felt as confident as I do today in the future of the company and its ability to take advantage of the exciting opportunities springing up all around us," he said.

Mr Bulmer plans to spend his retirement with his wife Susie in Yorkshire.