Young’s Seafood International Holdings has announced CFO Bill Showalter will replace CEO James Hill, who is to leave the the UK seafood group at the end of the year.
The holding company behind branded and own-label supplier Young’s Seafood said Showalter will retain his position as CFO.
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The group, formerly known as Findus Group before the rights to the Findus brand and operations in continental Europe, were sold to fellow frozen food group Nomad Foods said Pete Ward would remain chief executive of the operating company Young’s Seafood Limited.
In August, Nomad struck a cash-and-shares deal worth GBP500m to buy the Findus Group assets in Europe.
The acquisition saw Nomad take on Findus units in seven European markets – Sweden, Norway, Finland, Denmark, France, Spain and Belgium.
The remaining assets, including Young’s Seafood, stayed with investors Lion Capital, Highbridge Principal Strategies and Sankaty Advisors, which govern the business through the new holding company Young’s Seafood International Holdings.
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By GlobalDataShowalter said: “I am delighted to be taking on this additional responsibility and to continue working closely with Pete Ward. Young’s Seafood Limited is a great company, with a strong brand, a talented team, supportive shareholders and a bright future ahead of it.”
Hill, who joined the group in 2013 from Unilever, said it was “the right time to move on” after the sale of the Findus assets and having “driven significant growth” at the group.
