UK potato supplier Produce Investments names new chairman and finance director

UK potato supplier Produce Investments names new chairman and finance director

Produce Investments, the UK potato supplier, has announced chairman Barrie Clapham and finance director Brian McDonald are to leave their positions.

The company said Clapham had told the business he would step down at its AGM next month. Former Arla Foods executive Neil Davidson, who has been on the Produce Investments board since June, will replace Clapham.

Chief executive Angus Armstrong said: "The board has been fortunate to have Barrie as chairman for over a decade and we wish him the very best for the future. Neil's extensive knowledge and experience in the agri-food sector will continue to be a huge asset to the Board and the Company and we look forward to working with him closely over the coming years." 

Jonathan Lamont, who joined Produce Investments as financial controller in July, will succeed McDonald as finance director.

Armstrong added: "Brian has been Finance Director of Produce for over eight years and I would like to thank him for his significant contribution and commitment to the business. He was central to our successful admission to the AIM market of the London Stock Exchange in 2010 and has played a substantial role in helping us grow and develop the business since. Jonathan has gained extensive experience having held a number of senior finance roles both in the UK and abroad with FMCG businesses, including in the agri-food sector. I am confident he will be successful in his new role and we look forward to working with him as we continue with our growth strategy."

The announcement came alongside Produce Investments' publication of its annual results. The company hailed its "robust" performance in a year in which its operating earnings grew 14% but its bottom line was hit by costs from a site closure and a product renewal.