Greencore Group PLC Patrick Coveney to Step Down as CEO (6443T)
26 November 2021 - 02:49AM
UK Regulatory
TIDMGNC
RNS Number : 6443T
Greencore Group PLC
25 November 2021
25 November 2021
Greencore Group plc
Patrick Coveney to Step Down as CEO in March 2022. Appointment
Process for Successor to Commence Immediately.
Greencore Group plc ("Greencore" or the "Group") announces that
Patrick Coveney has informed the Board that he is stepping down
from his role as director and Chief Executive Officer. He will
resign from both positions effective 30 March 2022 to take up a
senior leadership role in a different sector.
A search process to appoint a new CEO will commence
immediately.
In line with the Board's existing contingency plan and pending
the appointment of a new CEO, Gary Kennedy, non-executive Chair,
will take a more active role in the business and will assume the
role of Executive Chair from 31 March 2022. Chief Commercial
Officer, Kevin Moore will assume the role of Deputy Chief Executive
with immediate effect. In the intervening period, Patrick will
continue to lead the executive team as CEO.
Commenting on this announcement Gary Kennedy, Chair said: "On
behalf of the Board, I would like to express our deep gratitude to
Patrick for leading the business for the past 14 years and for
transforming Greencore into the UK's leading convenience food
business. We wish him well in the future. We will commence a search
process to appoint a new CEO immediately and we will update on
progress in due course. In the meantime, our experienced management
team will continue to focus on the priorities of the business and
we look forward to updating the market on performance and prospects
on Tuesday at our FY21 results."
This Announcement contains inside information for the purposes
of the Market Abuse Regulation (Regulation (EU) No 596/2014)
("MAR").
ENDS
For further information, please contact:
Gary Kennedy Chair Tel: +353 (0)
1 486 3313
Emma Hynes Chief Financial Officer Tel: +353 (0)
1 486 3307
Jack Gorman Head of Investor Relations Tel: +353 (0)
1 486 3308
Rob Greening/ Nick Hayns/ Powerscourt Tel: +44 (0) 20
Sam Austrums 7250 1446
Billy Murphy or Louise Drury Communications Tel: +353 (0)
Walsh 1 260 5000
About Greencore
We are a leading manufacturer of convenience food in the UK and
our purpose is to make every day taste better. We supply
foodservice, grocery and other retailers, including all of the
major UK supermarkets. We have strong market positions in a range
of categories including sandwiches, salads, sushi, chilled ready
meals, chilled soups and sauces, chilled quiche, ambient sauces and
pickles, and frozen Yorkshire Puddings.
In FY20 we manufactured 619m sandwiches and other food to go
products, 116m chilled prepared meals, and 264m bottles of cooking
sauces, pickles and condiments. We carry out more than 10,000
direct to store deliveries each day. We have 16 world-class
manufacturing sites in the UK, with industry-leading technology and
supply chain capabilities. We generated revenues of GBP1.3bn in
FY20 and employ approximately 12,200 people. We are headquartered
in Dublin, Ireland.
For further information go to www.greencore.com or follow
Greencore on social media.
Forward--looking statements
Certain statements made in this statement are forward--looking.
These represent expectations for the Group's business, and involve
known and unknown risks and uncertainties, many of which are beyond
the Group's control. The Group has based these forward--looking
statements on current expectations and projections about future
events based on information currently available to the Group. These
forward-looking statements include all statements that are not
historical facts and may generally, but not always, be identified
by the use of words such as 'will', 'aims', achieves',
'anticipates', 'continue', 'could', 'develop', 'should', 'expects',
'is expected to', 'may', maintain', 'grow', 'estimates', 'ensure',
'believes', 'intends', 'projects', 'sustain', 'targets', or the
negative thereof, or similar future or conditional expressions.
By their nature, forward-looking statements involve risk and
uncertainty because they relate to events and depend on
circumstances that may or may not occur in the future and reflect
the Group's current expectations and assumptions as to such future
events and circumstances that may not prove accurate. A number of
material factors could cause actual results and developments to
differ materially from those expressed or implied by
forward-looking statements. There may be risks and uncertainties
that the Group is unable to predict at this time or that the Group
currently does not expect to have a material adverse effect on its
business. You should not place undue reliance on any
forward-looking statements. These forward-looking statements are
made as of the date of this announcement. The Group expressly
disclaims any obligation to publicly update or review these
forward-looking statements other than as required by law.
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END
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