Boparan Holdings, the parent of UK supplier 2 Sisters Food Group, has named former Associated British Foods executive Richard Pike as its new CFO.

Pike, most recently the managing director of ABF’s British Sugar arm, will officially join Boparan on 17 July.

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He replaces Stephen Leadbeater, who has decided to resign due to “ill health”, Boparan said. Leadbeater is to leave Boparan at the end of July but will be work as a consultant to the business until the end of the calendar year.

The news of the hiring of Pike came alongside the publication of Boparan’s third-quarter financial results.

Boparan reported rising sales but pressure on profits in what it described as a “tough” third quarter of its financial year.

However, Ranjit Singh, the CEO of 2 Sisters, said there were “clear signs in the top line performance that we are pursuing the right strategy to deliver sales and margin performance improvements”.

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