Premier Foods Chairman to Step Down
Ronnie Bell’s decision to step down reflects a desire to focus on his other business and governance commitments, having successfully put in place a new management structure at the Company and overseen the negotiation of new financing arrangements, as well as the development of a strategy to restore profitable growth.
1 Jun 2012 ---Premier Foods announces that Ronnie Bell has informed the Board of Directors of his intention to step down as Chairman of the Board with effect from 1st June 2012. The Board has appointed its Senior Independent Director, David Beever, to take on the Chairman’s role upon Ronnie’s departure.
Ronnie Bell’s decision to step down reflects a desire to focus on his other business and governance commitments, having successfully put in place a new management structure at the Company and overseen the negotiation of new financing arrangements, as well as the development of a strategy to restore profitable growth.
Commenting on his decision, Ronnie Bell said: “I’m delighted that we now have the right management, strategic and financial foundations in place to drive Premier Foods’ return to growth. Having set a course to turn the company around, I believe it is an appropriate time to step down.
“I’m confident that with Michael Clarke at the helm, the company has a bright future. I’m also very grateful to David Beever for stepping in as Chairman to ensure the necessary continuity”
David Beever commented: “The Board would like to thank Ronnie for his leadership over the last 21 months. “I have agreed to take on the Chairman’s role on an interim basis while the Board comes to a view on a permanent successor. My priority is to support Michael and the management team to continue building our organisation and strategy to restore profitable growth.”
The Board has appointed non-executive Director, Ian McHoul, to take over as Senior Independent Director once David Beever becomes Chairman.
