Premier Foods chairman to stand down in 2017

Premier Foods chairman to stand down in 2017

The chairman of the Premier Foods plc board, David Beever, has signalled his intention to stand down from his post. 

Premier revealed this morning (30 September) Beever will leave the UK company "during 2017". The company said the move would enable Beever to "reduce his work commitments". 

Beever has been on the Premier board for nine years, having joined the business in 2008 as a non-executive director. He was appointed chairman in 2012.

As chairman, Beever has overseen a tumultuous time for the business, including the appointment of a new CEO, Gavin Darby, in 2013, as well as efforts to strengthen Premier's financial position, address pension deficit issues and return the company's brands to growth. Premier's most recent financial update would suggest the work is paying off, with the Bisto gravy maker reporting its fourth consecutive quarter of growth.

Earlier this year, Premier's board rebuffed takeover interest from US spices and seasonings group McCormick.

"The board would like to thank David for his continuing commitment to the business and for the key role he has played in the turnaround of the business," the company said in a statement this morning. 

Premier said its board will now commence an external search for his successor, led by Ian Krieger, senior independent director, Premier said. Further updates will be announced "as appropriate".