Premier Foods plc Directorate Change (4617W)
January 28 2013 - 2:00AM
UK Regulatory
TIDMPFD
RNS Number : 4617W
Premier Foods plc
28 January 2013
Premier Foods plc ("the Company")
PREMIER FOODS ANNOUNCES APPOINTMENT OF GAVIN DARBY AS CHIEF
EXECUTIVE OFFICER TO CONTINUE TRANSFORMATION
Premier Foods today announces that, following receipt of Michael
Clarke's resignation, its Board of Directors has appointed Gavin
Darby as Chief Executive Officer with effect from 4(th) February
2013.
Gavin Darby has a strong consumer goods pedigree and extensive
senior executive experience. He spent fifteen years at the
Coca-Cola Company in senior leadership roles before moving to
Vodafone in 2001, where he was latterly CEO for its non-European
joint ventures, the fastest growing segment of the company. His
most recent role was as Chief Executive Officer of Cable &
Wireless Worldwide plc, which he successfully turned around before
negotiating its eventual sale.
This appointment follows Michael Clarke's indication to the
Board that, having delivered the initial turnaround of the Company
and set a course for future sustainable profitable growth, he was
potentially considering moving on to pursue other business
opportunities.
Michael Clarke will step down from the Board with immediate
effect and has agreed to remain available to the Company until mid
2013 to ensure an orderly handover to his successor.
Commenting on this announcement, David Beever, Chairman of
Premier Foods said:
"I am delighted to welcome Gavin Darby to Premier Foods. His
strong FMCG background and management track record make him the
ideal candidate to lead the Company. The Board very much looks
forward to working with Gavin to continue driving sustainable
profitable growth at Premier."
"Michael Clarke and the team have done a first class job in
stabilising the business, strengthening its balance sheet,
divesting non-core businesses and generating momentum. This is a
significant achievement in a challenging market and I would like to
thank Mike on behalf of the Board for his contribution."
Gavin Darby commented:
"I am very excited to be taking on this role. Although markets
remain difficult, I look forward to working with the team to
develop and grow the Company's Power Brands in the coming years.
Premier Foods has great potential and I fully intend to invest a
significant personal sum in the shares of the Company after the
Full Year results are published in February which the Company will
match."
The Company announced on 17 January that its fourth quarter
trading for 2012 was in line with its expectations and that its
Full Year results for 2012 are expected to be in line with current
market expectations.
No further information is required to be disclosed pursuant to
LR 9.6.13 R
<ends>
Conference Call
A conference call for investors and analysts will take place
today, 28 January 2013 at 8:30am, details of which are outlined
below.
Telephone number: +44 (0)20 7162 0025
Caller ID: 928361
For further information please contact:
Premier Foods
Lisa Attenborough, Director of Communications 01727 815850
Richard Godden, Head of Investor Relations 01727 815850
Maitland
Tom Buchanan 020 7379 5151
Tom Eckersley
This information is provided by RNS
The company news service from the London Stock Exchange
END
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