John Warren to serve as a non-executive at FTSE 250-listed Greencore
THE FORMER GROUP FD of United Biscuits has joined convenience food provider Greencore’s board.
John Warren joins the FTSE 250-listed business as a non-executive director. He also holds non-exec posts at Rank Group, Bovis Homes, Spectris, 4imprint and Welsh Water. Warren is the former chairman of Uniq – a business acquired by Greencore in September 2011.
Gary Kennedy, chairman designate, said: “I would, on behalf of everybody at Greencore, like to welcome these outstanding market leaders to the board. Their diverse skills and international experience in markets will bring a greater focus for the group as it moves forward in its development.”
Greencore is the world’s largest maker of sandwiches – 350 million a year – with a 36% share of the UK market, supplying to Tesco, Asda, M&S, Sainsbury’s and Waitrose, turning over a £1bn, with its last half-year profits coming in at £31.7m.
It began as an Irish state-owned sugar processor and agricultural producer, until tariff changes saw its business model change.
In May 2011, Greencore negotiated a new £280m credit facility, enabling the company to move for Uniq. A rights issue was also launched to help fund the acquisition.
The company’s share price is 108.25p, up 0.25p in this morning’s trading.
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