Greencore To Appoint US Chief Executive By Year End
Dublin-based food group Greencore has announced that it is searching for a new chief executive for its US operations, according to the Irish Independent.
According to sources, the appointment will be made before the end of the year, as speculation over a potential takeover interest in the group continues, including rumoured interest from a private equity suitor.
The Irish Independent reports that there has not yet been an approach made, and Greencore has not received any offers since late 2011.
Refining US Strategy
Back in early March, Patrick Coveney, the chief executive of Greencore, announced that he would take a direct role in Greencore US, spending approximately half his time in the US.
According to The Independent, this move was only a temporary measure to allow the company to search for a full-time replacement CEO.
The company has faced a challenging first half of the year, which saw its strong revenue growth offset by challenges experienced in the original part of Greencore’s US division.
In its interim results for the 26 weeks ending March 30, Greencore announced that it "reviewed and refined its US strategy and organisation".
© 2018 Checkout – your source for the latest Irish retail news. Article by Aidan O’Sullivan. Click subscribe to sign up for the Checkout print edition.