Uniq announces completion of a strategic review

16/03/05 During the five month offer period that ended on 1st March 2005, the Board of Uniq plc conducted a review of the Group's strategy, the main conclusions from which have been announced.

The Company operates through three divisions which have strong market positions in the UK, France, and Germany and Benelux respectively. The Board has decided that the strategy of seeking to build this portfolio into a Pan European chilled food business is no longer appropriate.

The Group current priority is to focus on the growth and profitability of its three core divisions rather than seeking to further integrate these businesses given their different characteristics and the slow rate at which these major markets are converging.

Accordingly, the Group plans to manage the three divisions as largely free-standing businesses which can nonetheless continue to benefit collectively from centralised purchasing, treasury, tax and finance functions.

Another significant change that the group would notice is that Bill Ronald, who has been Chief Executive since February 2002, would be leaving the business.

The Board and Bill Ronald have mutually concluded that the successful execution of the new strategy requires a different set of leadership skills to drive rapid change and to introduce leaner and more responsive management structures.

A search is under way for his successor and an appointment will be made as soon as possible. In the meantime, Nigel Stapleton, the Chairman, will be taking a greater involvement alongside the three Divisional Managing Directors and the Group Finance Director in guiding the implementation of this new strategy.

Following the recent announcement that Lord MacGregor of Pulham Market, who is the senior non-executive director, will be retiring from the Board in July, it has been agreed that Margaret Young will take on that post with immediate effect.

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