30th Aug 2019 07:48
(Alliance News) - Premier Foods PLC on Friday said it has promoted UK Managing Director Alex Whitehouse to chief executive, while Colin Day has been appointed as non-executive chair of the Mr Kipling cake maker.
Day currently holds directorships at mid-cap engineer Meggit PLC and business publisher and events organiser Euromoney Institutional Investor PLC.
Whitehouse will replace Alastair Murray, who is leaving the food manufacturer with immediate effect, having been chief financial officer for six years and acting CEO for the past seven months.
In addition, Premier Foods said Duncan Leggett, director of financial control & corporate development, will become acting CFO, pending a permanent appointment.
Looking ahead, the company said it intends to "further strengthen the board" with the appointment of an additional two independent non-executive directors "as soon as possible".
"I'm very encouraged by the improved performance of the business over the last couple of years and see this as something we can build on further," said Whitehouse.
Back in July, Premier Foods reported first quarter sales were higher despite the company exiting low-margin contracts, as increased marketing activity saw it deliver growth across its key brands.
For the 13 weeks ended June 29, sales were 1.1% higher. This was helped by branded sales rising 2.9% during the quarter, offsetting an 8.3% fall in sales from non-branded products due to the firm exiting low-margin cake contracts.
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