UK: Somerfield CEO steps down, shares fall 40%
The UK's fifth largest supermarket retailer, Somerfield, has announced that company CEO Alan Smith is to step down and John von Spreckelsen is to take sole responsibility for leading the executive team. The directors and CEO have mutually concluded that this will provide greater clarity of leadership in the future. Smith has, accordingly, agreed to step down from his role as chief executive to pursue other long held business ambitions outside the group. The change, which is to take immediate effect, come only a few days after the company's finance director announced his decision to resign.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-food gives you the widest food market coverage.
Paid just-food members have unlimited access to all our exclusive content - including 17 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Dean Best, editor of just-food
- Interview: Sir Kensington's on sale to Unilever
- Analysis: Post discusses rationale for Weetabix
- Who will buy Danone's Stonyfield business?
- Column: Why snacking is the new meal
- Interview: "Disruptive" snack brand Hippeas
- Unilever buys US condiments maker Sir Kensington's
- Ice cream helps Unilever sales, food flat
- Nestle organic growth slows but beats expectations
- Suntory to offload Australia, New Zealand foods
- Dairy dampens Danone in Q1