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Premier Foods Chief Steps Down — Finspreads

Posted on January 29, 2013 by Web Desk

LONDON–(Marketwire – January 28, 2013) – Finspreads: Premier Foods, the firm behind well-known brands such as Hovis, Bisto, and Oxo, saw its shares slip during early trading in London today (January 28th), after the announcement of chief executive Michael Clarke’s resignation.

The firm revealed that Mr Clarke, who has led Premier Foods for 18 months, would step down from the board with immediate effect.

During his time as chief executive, Mr Clarke oversaw the sale of several brands in order to keep the company’s burden of debt around £1 billion under control.

Brands to be sold off include the Branston range of pickles and sauces, Robertson’s jam, and Sarson’s vinegar.

His successor will be former head of Cable & Wireless Worldwide Gavin Darby, who will take up the post on February 4th.

As a result the company’s shares have slumped on the market, falling as much as nine per cent during this morning’s trading.

At 1135GMT, its shares in London were valued at 110.00p, a retreat of 8.71 per cent.

What is spread betting? Learn more at Finspreads.

About Finspreads:

Finspreads pioneered browser-based spread betting in the UK in 1999 by being the first provider in the industry to offer real time spread betting access via a browser.

Learn how to spread bet with Finspreads through our dedicated education section. Through our Learn to Spread Bet section, you can access a wide range of trading tips and resources.

We also offer an introduction to spread betting section, helping you to understand the financial markets and how they work, as well as spread betting tips for managing your risks and analysing the markets.

Our Learn to Spread Bet section has been designed to help you build up your spread betting expertise so you can start trading across thousands of markets with confidence.

Your losses are magnified in exactly the same way as your gains if the market moves against you and can result in losses exceeding your initial outlay. Please ensure you fully understand the risks involved.

Contact Information

Contact:
Joshua Raymond
Finspreads
+44(0)20-7107-7002
joshua.raymond@cityindex.co.uk

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