9th Apr 2008 08:30
Greggs PLC09 April 2008 9 April 2008 GREGGS plc ("GREGGS") APPOINTMENT OF NEW CHIEF EXECUTIVE The Board of Greggs is pleased to announce the appointment of Ken McMeikan asChief Executive of the Group. He will join the Board on 1 June 2008. Ken McMeikan, 42, is currently Retail Director of J Sainsbury plc, and hasplayed a major part in their progress since he joined them in 2005 after a shortperiod as chief executive of Tesco Japan. Prior to this he had spent 14 years inoperational roles with Tesco, becoming chief executive of the Europa Foodsconvenience store business following its acquisition in 2002, withresponsibility for its integration into the Tesco Express format. Sir Michael Darrington will retire from his full time position as Group ManagingDirector of Greggs at the end of July 2008. Sir Michael joined the business inJuly 1983, and became Managing Director the following January. He will remain onthe Board of Greggs as a Non-Executive Director. Derek Netherton, Chairman, said "When we began the process to find a successorto Mike Darrington, we recognised that he would be an extremely hard act tofollow. We are therefore delighted to have found in Ken McMeikan a person withthe right mix of abilities and personal qualities to lead the business in thenext stage of its development. His considerable retailing experience, gainedwith both Sainsbury's and Tesco, will greatly complement the skills andexpertise that already exist within the Greggs senior team. "On behalf of the Board I would like to thank Mike most sincerely for hisoutstanding contribution to the considerable growth and development of thebusiness over the last 25 years, and particularly for his strong and unflaggingleadership." Sir Michael Darrington said "I am really pleased to be handing on my executiveresponsibilities at Greggs to someone who fully understands and shares theunique values of the business, and possesses the right people skills toimplement the next phase of our strategy. From time to time it is good for anybusiness to refresh and augment its capabilities through external recruitment,as it was when I joined Greggs in 1983. Ken's experience will strengthen ouralready excellent top team, and will prove particularly relevant and helpful inprogressing the development of Greggs as a much more unified andcustomer-focused national brand." Greggs plc confirms that it has been advised by Ken McMeikan that there isnothing further to disclose in relation to Rule 9.6.13 of the Listing Rules. ENQUIRIES:Greggs plc Hudson SandlerDerek Netherton, Chairman Michael Sandler / Wendy BakerTel: 020 7796 4133 Tel: 020 7796 4133Sir Michael Darrington, Managing DirectorTel: 0191 281 7721 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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