Hovis Ceo Jon Jenkins To Leave Uk Baker

2 weeks ago

Hovis is successful nan throes of being acquired by Associated British Foods, taxable to regulatory approval.

Hovis CEO Jon Jenkins is stepping down aft 3 years successful nan lead domiciled astatine nan UK bakery business.

Jenkins departure follows nan August confirmation that Associated British Foods (ABF), nan Kingsmill and Sunblest bakery marque proprietor done its Allied Bakeries unit, was buying Hovis from private-equity patient Endless.

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According to a little connection from Hovis, Jenkins will relinquish nan CEO occupation successful “mid-September”.

Aidan Robson, a managing partner astatine Endless, said: “I would for illustration to convey Jon for his support and activity complete nan past 3 years.

“Jon has helped navigate Hovis done an unprecedented play of earthy worldly ostentation and further developed nan much-loved Hovis scope of products and brand. Jon leaves pinch our acknowledgment and champion wishes.”

Hovis confirmed to Just Food that “the executive committee will proceed to present nan strategical guidance of Hovis”, arsenic it looks to supply “retailers and consumers pinch awesome work and high-quality products they are utilized to”.

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The outgoing CEO joined Hovis successful 2022, coming from a elder executive role astatine ABF.

“I person thoroughly enjoyed my clip astatine Hovis and would for illustration to convey each our unthinkable colleagues crossed our bakeries, milling cognition and distribution centres for their committedness and support complete nan past 3 years,” Jenkins said successful nan statement.

“I americium really proud of what we person achieved, and I look guardant to seeing nan business proceed to prosper successful nan future.”

ABF CEO George Weston said past period erstwhile nan Hovis woody was announced that nan operation pinch Allied Bakeries would “create a UK bakeries business that is some profitable and sustainable complete nan agelong term”.

He added astatine nan time: “Supporting nan Hovis and Kingsmill brands pinch well-invested and businesslike operations will besides alteration invention and growth.

“This solution will create worth for shareholders, supply greater prime for consumers and summation efficiencies for customers.”

Endless acquired Hovis successful 2020. Financial position of nan transaction pinch ABF were not disclosed. The woody is taxable to support by nan UK’s Competition and Markets Authority (CMA).

ABF does not break down nan financial capacity of Allied Bakeries, but wide group results for nan 24 weeks to 1 March showed a 2% diminution successful income to £9.51bn ($12.94bn), while adjusted operating profit dropped 12% to £835m. Profit earlier taxation fell 21% to £692m.

Confirming nan woody past month, Robson said: “The transaction pinch ABF represents an opportunity to create a level for semipermanent sustainability successful nan bakery assemblage for nan use of retailers and consumers.

“While we activity towards achieving CMA clearance of nan transaction our attraction remains connected Hovis to proceed delivering exceptional products and work to its customers.”

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