UK confectioner Lees Foods today (14 September) announced that chairman and CEO Raymond Miquel is to leave the positions with immediate effect.

Lees said it would shed more light on its new board structure when it publishes its interim results later this month.

Officials for Lees could not be reached for immediate comment.

In a statement to the London Stock Exchange, Lees said Miquel had "rescued" the business in 1993 when it was close to bankruptcy and losing over GBP1m (US$1.7m) a year.

"Under Mr Miquel's leadership staff numbers have grown from approximately 130 to around 250 and the turnover for both companies rose to GBP16.5m in 2008," the statement read.