– UK – Finsbury Food Group plc (AIM: FIF), a leading manufacturer of cake and bread bakery goods is pleased to announce the appointment of Peter Baker as Non-Executive Director Chairman with effect from 1 July 2014.
Peter, 61, has over 30 years’ senior CEO and Directorships experience within the global bakery and consumer packaged goods industry. Most recently, Peter held the position of Managing Director of Maple Leaf Bakery between 2009 to 2013, moving into this position after the sale of La Fornaia Bakeries, of which he was the CEO. Under his leadership, La Fornaia sales and profits increased significantly, driven by the introduction of innovative new products.
Prior to these roles Peter held senior COO and Director positions at RHM Consumer Brands, British Bakeries and was Managing Director of Rank Hovis Mills. Peter was previously Non-Executive Director at Jordans Cereals, now a part of Associated British Foods. He has also served as Vice President CIAA (European trade association for food and drink).
Following significant tenures with the Group, both Martin Lightbody and David Marshall will step down as Non-Executive Chairman and Non-Executive Director respectively. The Board would like to thank Martin and David for their valuable contribution to the Group.
John Duffy, Chief Executive of Finsbury Food Group plc, commented: “I am very pleased to welcome Peter to the Group as Chairman. Finsbury Food is at a pivotal stage of its evolution and we have been shaping the expertise and capabilities of the Board accordingly. Peter’s wealth of global industry and PLC experience will be a considerable asset to the Group.
I would also like to take the opportunity to thank Martin and David for their support and dedication to the Group throughout the years and wish them both the very best for the future.”
About Finsbury Food Group plc
Finsbury Food Group plc (AIM: FIF), is a leading manufacturer of cake, bread and bakery goods. Within its Cake business, the Group’s focus is premium and celebration cakes plus low fat cake slices. Its Bread business manufactures artisan and organic bread and also morning goods.
Finsbury Food Group is the second largest manufacturer of Ambient Packaged Cake (excluding In Store Bakery) in the UK, a market valued at £939m (Source: Kantar Worldpanel Total UK Coverage, January 2014).
The Group’s strategy is to generate returns for shareholders by building a crafted bakery group focused on premium, celebration and well being that delivers for customers and consumers. Finsbury continues to develop its licensed brand portfolio to complement its core retailer brand relationships and improve its understanding of and response to changing consumer needs.
Whilst the Company sees exciting organic growth opportunities in all its businesses and its short-term focus is on integrating and growing its existing businesses, the aim is to take advantage of the appropriate bolt on acquisitions to drive longer term value as opportunities and circumstance allow.
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