Food Freshness Technology Appoints Paul Moody as CEO
11 Oct 2013 --- Former Britvic boss Paul Moody will become the new CEO of Food Freshness Technology (FFT) on 21 October, marking an exciting new era of global development for this fast-growing, food-focused, innovative materials group.
FFT’s Chairman, Peter Sugarman, comments: “We welcome Paul Moody as our new CEO. Paul’s long and successful track-record in the food and beverage industry, most recently at FTSE250 plc Britvic, will bring invaluable momentum and connections to keep developing our offer and international customer base.”
Paul Moody comments: “This move may surprise some commentators but it’s a fantastic new challenge for me. FFT’s business area is both commercially exciting and immensely important, at a time when food waste, food security and basic nutrition are key issues to tackle.”
Paul, 56, has worked in the food industry since 1982. At Britvic between 1996 and 2013, serving as CEO from 2005, he led a period of dynamic growth and development including the company’s successful IPO in 2005 and a business transformation programme. Paul created a strongly international perspective for this historically UK-centric company, establishing via franchise and licensing a global footprint for Britvic’s owned brands, as well as acquiring the soft drinks business of C&C Group in Ireland, and Fruité Enterprises in France. Paul’s departing legacy to shareholders was a +77% share-price increase (vs. +12% FTSE All Share) and a Total Shareholder Return (TSR) of +129% (vs. 43% FTSE All Share).
A consortium of private investors led by JRJ Group, the PE firm headed by ex-Lehman boss Jeremy Isaacs, has thus far invested over £10m in technologies owned by FFT. FFT’s growing portfolio of advanced innovation businesses includes It’sFresh!, whose ethylene-removal pads for fresh produce typically save around 50% of in-store waste[1], and can add a minimum of two days’ product life[2]. Already used by M&S, Waitrose and others in the UK, It’sFresh! is the only technology capable of preventing unwanted premature ripening of fruit and vegetables all the way along the supply chain.
Peter Sugarman continues: “With group companies such as It’sFresh! we are addressing the pressing global problems of food sustainability in an ethical manner. We have partnerships with a wide range of research and technology organisations in academia and industry; and there are huge opportunities to extend our technology deployment from the UK and Chile into the EU, US and APAC, where discussions are well underway.”
Former CEO Laurence Kayson comments: “As a founder shareholder, I’m delighted to welcome Paul as new CEO. I look forward to passing on the baton as I move to take on a new rôle within the group.”
