UK-based bakery merchandise producer Baker & Baker has promoted CFO Matthew Acheson to the place of CEO.
Acheson, who has been Baker & Baker’s finance chief since 2021, succeeds John Lindsay, who has been on the helm of the enterprise for almost 4 years.
Lindsay, who moreover labored for Baker & Baker forerunner CSM Bakery Choices, has moved proper right into a strategic advisory operate until 1 May. He’ll then take up a non-executive director place with the company.
Baker & Baker acknowledged the appointment of Acheson “shows his dedication and success in driving the effectivity of the enterprise over the sooner seven years as CFO”.
Marianne Kirkegaard, Baker & Baker’s govt chair, acknowledged: “On behalf of the board, I want to congratulate Matthew on his appointment as CEO and particular our confidence, perception and help in him to information the company in its new endeavours.”
She added: “I would moreover want to pay tribute to John for his just a few years of impeccable service – and significantly his implausible administration of the enterprise since 2016, along with the transition, establishment and success of Baker & Baker as a model new enterprise entity.”
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Paul Jones has succeeded Acheson as Baker & Baker’s CFO. He has served as UK finance director since 2021.
Baker & Baker gives larger than 30 markets all through Europe and throughout the Middle East and North Africa.
The company has 12 manufacturing web sites all through six European nations, utilizing larger than 2,500 people.
In a press launch, Acheson acknowledged he is making an attempt to broaden the enterprise’ presence and distribution in markets all by means of Europe and extra afield.
He added: “2024 has been one different sturdy 12 months for the Group, and we’re excited regarding the options to develop our enterprise in collaboration with our key shoppers and companions.”
The newest accounts filed at Firms Residence, the UK enterprise register, for Baker & Baker cowl 2023.
Turnover was €620.4m ($636.1m) in 2023, a 12% rise 12 months on 12 months. The company purchased 141.9m metric tons of merchandise in 2023, up 0.2% on 2022.
Baker & Baker posted an working lack of €5.5m, as compared with €11.4m in 2022. It reported a web lack of barely under €8m, in direction of an absence of €15.3m a 12 months earlier.
