Premier Foods Appoints Michael Clarke as New Chief Executive Officer

As previously announced, Robert Schofield, the current CEO, is retiring from the Company and will now leave the business following a short handover.

Jul 21 2011 --- Premier Foods is pleased to announce the appointment of Mike Clarke, currently President of Kraft Foods Europe, as Chief Executive Officer (CEO) of the Company with effect from 1 September 2011.

Mike is one of the most senior executives in the European food industry. In his role at Kraft he was responsible for managing the group’s entire European business, with revenues of $13 billion, 58 manufacturing sites and 25,000 employees, reporting directly to Kraft’s Chairman & CEO.

Prior to taking up his role at Kraft Foods Europe, in 2009, Mike was President of The Coca-Cola Company, Northwest Europe (including the UK) & Nordics and was with the company for 12 years in a number of senior roles.  Previous to this, Mike was Vice President for Reebok South Asia/Pacific and began his early career as a Chartered Accountant in South Africa with Deloitte. He graduated with a degree in Commerce from the University of Cape Town.

As previously announced, Robert Schofield, the current CEO, is retiring from the Company and will now leave the business following a short handover.

Ronnie Bell, Chairman, Premier Foods, said:

"I am delighted to welcome Mike as CEO.  He has had a significant and successful career in the food and drinks industry and brings with him a wealth of strategic brand experience combined with a strong financial and operational background.  He has an impressive track record and I very much look forward to working with him as we focus on delivering our branded growth strategy and continuing to reduce debt.”

“I would also like to take this opportunity to thank Robert for his continuous commitment to Premier Foods over the last ten years and to wish him all the best for the future.”

Mike Clarke, said:

“I am enormously excited about the prospect of joining Premier Foods with its powerful portfolio of brands. I look forward to working with Ronnie, the Board and Management to drive the growth of the business and ensure that it delivers on its tremendous potential.”

The following information is required to be disclosed pursuant to LR 9.6.13 R.

Michael Clarke, aged 47, is currently non-executive director of Wolseley Plc.