Premier Foods makes Krafty choice for CEO

14th Jul 2011 08:53

Shares in foods group Premier Foods were marked up in early trading on Thursday as the Hovis bread and Sharwood ready-meals maker unveiled industry veteran Mike Clarke as its new head honcho.Clarke, currently President of Kraft Foods Europe, will take over as chief executive of Premier Foods at the beginning of September. Prior to taking up his role at Kraft Foods Europe in 2009, Clarke was President of The Coca-Cola Company, Northwest Europe (including the UK) & Nordics and was with the company for 12 years in a number of senior roles. "He [Clarke] has had a significant and successful career in the food and drinks industry and brings with him a wealth of strategic brand experience combined with a strong financial and operational background," enthused Ronnie Bell, Premier's chairman. "He has an impressive track record and I very much look forward to working with him as we focus on delivering our branded growth strategy and continuing to reduce debt," Bell chimed in.The shares reacted well to the end of the uncertainty, and rose 0.62p to 18.72p in early trading. Robert Schofield, the current chief executive officer, announced his decision to retire from the role at the end of April.--jh