Directorate Change

RNS Number : 5536C

Greencore Group PLC

11 February 2020

 

11 February 2020

Greencore Group plc

Directorate Change - Chief Financial Officer

Greencore Group plc ('Greencore' or the 'Group'), a leading manufacturer of convenience food in the UK, today announces that Eoin Tonge, Chief Financial Officer, is leaving the Group to become Chief Financial Officer of Marks and Spencer Group plc ('Marks & Spencer').

Eoin will step down as an Executive Director and Chief Financial Officer following the Group's FY20 Interim Results in May 2020. A process to determine a successor is now underway in line with Board succession planning, and Eoin will work with the Chief Executive Officer and the Board to ensure an orderly transition. 

Patrick Coveney, Chief Executive Officer, commented: "Eoin has been a dedicated, professional and loyal Greencore colleague. I have thoroughly enjoyed working with him on both a professional and personal level for the last 14 years and will miss him greatly. He leaves with our gratitude for his enormous contribution to the Group but he also has our very best wishes for the future. We have a strong finance team at Greencore and have already commenced a process to appoint a new Chief Financial Officer."

Eoin Tonge, Chief Financial Officer, commented: "I have greatly enjoyed my 14 years in a variety of leadership roles at Greencore. It has been a privilege to work for such a dynamic company and with such outstanding colleagues. I am delighted to be taking on a new and exciting challenge with Marks & Spencer, a key customer of Greencore's. I believe Greencore to be in great shape, with a clear, compelling strategy for future growth and a strong leadership team to deliver it."

This announcement contains inside information for the purposes of the Market Abuse Regulation and has been made pursuant to Listing Rule 9.6.11.

-Ends-

For further information, please contact:

Jack Gorman	Head of Investor Relations	Tel: [phone]
Rob Greening or Sam Austrums	Powerscourt	Tel: [phone]
Billy Murphy or Louise Walsh	Drury | Porter Novelli	Tel: [phone]

About Greencore

Greencore is a leading manufacturer of convenience food in the UK. It supplies grocery and other retailers including all of the major UK supermarkets. The Group has strong market positions in a range of categories including sandwiches, salads, sushi, chilled snacking, chilled ready meals, chilled soups and sauces, chilled quiche, ambient sauces and pickles, and frozen Yorkshire Puddings.

On an annual basis, Greencore manufactures around 717 million sandwiches and other food to go products, 123 million chilled prepared meals, and 231 million bottles of cooking sauces, pickles and condiments. The Group carries out around 7,500 deliveries to stores each day.

Greencore has 21 production units in 16 world-class manufacturing sites in the UK, with industry-leading technology and supply chain capabilities. The Group also operates two ingredients trading businesses in Ireland. The Group employs c.11,500 people and is headquartered in Dublin, Ireland.

The Group's medium term financial ambitions are for mid single-digit organic revenue growth, high single-digit Adjusted EPS growth, the conversion of half of its Adjusted EBITDA to Free Cash Flow and for mid-teen ROIC.

For further information go to www.greencore.com or follow Greencore on social media.

 

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