Bakkavor Group PLC
5 September 2024
5 September 2024
Bakkavor Group plc (the
'Company' or 'Bakkavor')
Directorate change: Chief
Financial Officer
Bakkavor announces that Ben Waldron, Group Chief
Financial Officer, Asia CEO and Executive Director, will be
stepping down from the Board and leaving the business. After almost
14 years with the Group, including four years as the Group's CFO,
Ben has decided to relocate to Australia in order to join his
partner. In his time at Bakkavor, Ben has played a huge role in the
development of the Group: he led the work on our IPO in 2017, and
on the development of our current Group strategy, was CEO of our US
business through the COVID 19 pandemic, and more recently, as CFO,
brought increased clarity to our financial processes, including the
development and application of a new capital allocation
policy.
Ben will step down from the Board formally on 31
October 2024 but will remain with Bakkavor for a further six months
meaning he will leave the business at the end of April 2025. This
will ensure a smooth handover and transition to the new CFO, as
well as maintaining continuity and momentum within the
business.
Ben will be succeeded by Lee Miley, currently UK
Finance Director, who will take up the role as CFO and Executive
Director, effective 1 November 2024. Lee joined Bakkavor in
1998 and has held many roles within the finance function and also
has broader experience, having been responsible for the Group's
approach to M&A, Operational Excellence and ESG at various
times.
Commenting on these Board changes, Simon Burke,
Chairman said, "Ben has been a most excellent CFO and a pleasure to
work with. We are very sorry to see him go, but we wish him
well in Australia. Meanwhile we are really pleased to be
appointing Lee as our new CFO, confirming our succession planning
following a rigorous appointment process which included internal
and external candidates."
Mike Edwards, Chief Executive Officer added, "During
his time as CFO, Ben has played a lead role in step changing the
financial performance of the business and transformed the Group's
investor relations function. On behalf of all of us, I would like
to thank him for his significant contribution over the years and on
a personal note I would like to thank him for his steadfast support
to me in my time as CEO. He will be missed but we wish him well on
his Australian adventure.
I am, however, delighted that Lee Miley is stepping
into the role of CFO. He has a wealth of experience both of our
industry and our business which made him the standout candidate and
his appointment will ensure we maintain the momentum we have
recently established. I look forward to working with Lee again and
congratulate him on his appointment."
There are no further details to be disclosed pursuant
to Listing Rules 6.4.8R and 6.4.6R in connection with Ben Waldron's
resignation or Lee Miley's appointment.
Enquiries:
Company Secretarial:
Annabel Tagoe-Bannerman, Group
General Counsel and Company
Secretary
+44 (0) 20 7908
6130
Institutional investors and analysts:
Emily Daw, Head of Investor Relations
+44 (0) 20 7908 6114
Financial
media:
bakkavor@mhpgroup.com
Katie Hunt, MHP
+44 (0) 7884 494 112
Rachel Farrington, MHP
+44 (0) 7801 894 577
About Bakkavor:
We are the leading provider of
fresh prepared food in the UK, and our presence in the US and China
positions the Group well in these high-growth markets. We leverage
our consumer insight and scale to provide innovative food that
offers quality, choice, convenience, and freshness. Around 18,000
colleagues operate from 43 sites across our three markets supplying
a portfolio of over 3,000 products across meals, pizza & bread,
salads and desserts to leading grocery retailers in the UK and US,
and international food brands in China. Find out more
at www.bakkavor.com.
LEI number:
213800COL7AD54YU9949