– UK, Hamilton – Finsbury Food Group Plc (AIM: FIF), a leading UK manufacturer of cake, bread and morning goods for both the retail and foodservice channels, is pleased to announce the appointment of Zoe Morgan as Non-Executive Director, effective as of 4 July 2016, the start of the Company’s new financial year.
Zoe, aged 53, has 15 years Executive Director experience with significant retail, consumer and financial services businesses, including the role of Group Marketing Director of The Co-operative Group, HBoS Retail and Boots UK. Zoe has developed a broad commercial background in multi-site, retail, manufacturing and service businesses, with key strengths in strategy, brand management and customer relationship management. For the last 8 years she has held a portfolio of Non Executive Directorships and is currently a Board member of Moss Bros, Kind Consumer and The Good Care Group.
Following over 13 years of tenure, Edward Beale, Non-Executive Director has announced his intention to step down from the Board after the November 2016 AGM. Edward was appointed as a director of Finsbury when Memory Lane Cakes was reversed into the Megalomedia cash shell to create Finsbury in August 2002, and initially served as interim Finance Director until August 2003.
Peter Baker, Non-Executive Chairman of Finsbury Food Group Plc, commented: “On behalf of the Board and the wider Group I welcome Zoe to the business. She brings with her extensive marketing, business and brand development experience, and her appointment comes at an exciting time in Finsbury’s development. Zoe’s experience with multi-branded businesses will be invaluable as we continue to grow and diversify, and I very much look forward to working with her. I would also like to take the opportunity to thank Edward for his support and contribution to the Group throughout this time, helping us to reach our current position in the market.”
About Finsbury Food Group Plc
Finsbury Food Group Plc (AIM: FIF) is a leading UK manufacturer of cake and bread bakery goods, supplying a broad range of blue chip customers within both the grocery retail and ‘out of home eating‘ foodservice sectors including major multiples and leading foodservice providers. Following the acquisition of the Fletchers Group of bakeries, the Company is one of the largest speciality bakery groups in the UK with annualised sales in 2015 approaching £300 million.
The Company‘s bakery product range is comprehensive and includes:
- Large premium and celebration cakes.
- Small snacking cake formats such as cake slices and bites.
- Artisan, healthy lifestyle and organic breads through to rolls, muffins (sweet and savoury) and morning pastries, all of which are available both fresh and frozen dependent on customer channel requirements.
The Company is a leading manufacturer and supplier of ambient packaged cake (excluding In Store Bakery) and bread and morning goods in the UK within the grocery retail and the UK foodservice bakery sectors. The ambient cake market (excluding In Store Bakery) is valued at £948 million (Source Symphony IRI 52 w/e 5 December 2015). The annual bread and morning goods market has a value in excess of £4.1 billion (source Kantar Worldpanel). The UK foodservice bakery sector is worth approximately £800 million per annum and the UK foodservice cake and sweet treats market is worth approximately £500 million per annum.
The Company comprises a UK Bakery division and an Overseas division:
- UK Bakery has manufacturing sites in Cardiff, Hamilton, East Kilbride, Salisbury, Sheffield, London and Manchester.
- Overseas division comprises the Company‘s 50% owned subsidiary, Lightbody-Stretz Ltd, which supplies and distributes the Group‘s UK manufactured products and third party products, primarily to Europe.
- Disclaimer - News, data, and statements included in this release are intended exclusively for general information purposes. Talent4Boards does not guarantee that news is accurate or about the correct person and accepts neither liability for the consequences of the reader’s reliance, nor responsibility for the accuracy of the information. Nothing in this release should be considered for decisions about referred securities. Products and brand names may be trademarks or registered trademarks of their respective owners.