Premier Foods plc announced today (28 January) that its chief executive, Michael Clarke, has resigned.

Clarke joined Premier eighteen months ago. The company said that Clarke planned to exit the group “having delivered the initial turnaround of the company and set a course for future sustainable profitable growth”.

Clarke will be replaced by former Cable & Wireless Worldwide CEO Gavin Darby. Darby will take up his new role as CEO on 4 February, although Clarke will remain with Premier until the middle of the year.

Darby, who had spent 15 years at Coca-Cola before joining Vodaphone, commented: “Although markets remain difficult, I look forward to working with the team to develop and grow the company’s Power Brands in the coming years. Premier Foods has great potential and I fully intend to invest a significant personal sum in the shares of the company after the full-year results are published in February, which the company will match.”

Check back for more on Premier’s new CEO after the company’s conference call, which is to be held later this morning.

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By GlobalData