Sector movers: Premier Foods' new FD gets warm welcome

25th Nov 2011 15:59

Cash-strapped food manufacturer Premier Foods is to get a new chief financial officer and his first job is likely to be the negotiation of the refinancing of the group's longer term debt. The stock led the Food Producers sector higher after Mark Moran, previously finance director at Durex condoms maker SSL International, was announced as the replacement for Jim Smart.Smart, who has been with Premier Foods through thick and thin - mostly thin - since 2009, has "agreed with the company that 2012 would be the right time to step down as the company's new business plan is finalised and as its new financing arrangements are put in place." Top performing sectors so far todayFood Producers & Processors 5,308.44 +1.81%Pharmaceuticals & Biotechnology 9,282.91 +1.71%Aerospace and Defence 3,100.96 +1.69%Real Estate Investment & Services 1,443.13 +1.62%Automobiles & Parts 4,009.78 +1.54%Bottom performing sectors so far todayIndustrial Transportation 2,020.19 -1.93%Forestry & Paper 4,506.74 -0.57%Technology Hardware & Equipment 673.55 -0.13%Aeronautics and Defence NULL 0.00%Alternative Energy 8,888.00 0.00%