Patisserie : Resignation and Appointment of CEO

Resignation and Appointment of CEO

Released : 15-11-2018 12:55

RNS Number : 5097H Patisserie Holdings PLC 15 November 2018

For immediate release

15 November 2018

Patisserie Holdings plc

Resignation and Appointment of CEO

Patisserie Holdings plc (AIM: CAKE) ("PH" or the "Company") announces that it has accepted the resignation of Paul May as the Company's Chief Executive Officer with immediate effect.

The Company is also pleased to announce the appointment of Stephen Francis, as the Company's Chief Executive Officer, with immediate effect.

Steve is a strong leader and experienced turnaround Chief Executive with a proven track record of rapid operational performance improvements. Since 2005, Steve has completed four successful operational turnarounds of multi-site, international businesses with revenues ranging from £2 billion to £200m. Steve was recently CEO of Tulip Ltd., the UK's largest integrated farmer and producer of pork, where he led the rapid return from significant losses, rebuilt the management team and completed a major growth acquisition. Prior to that, he led the turnaround of Danwood Group as Group CEO, restoring the credibility with stakeholders, re-building the management and transforming the profitability of the Company. He has also held turnaround roles at Vion Food Group and Vita Group. Stephen has also held a number of senior roles at Barclays Capital, PricewaterhouseCoopers and McKinsey.

Luke Johnson, Chairman, said;

"I am delighted to welcome Steve Francis as new CEO at Patisserie Holdings PLC. He has a strong track record of restoring value in turnaround situations, especially in the food industry, and the board looks forward to working with him in the revival of the business."

The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.

Pursuant to Rule 17 and Schedule 2(g) of the AIM Rules for Companies, the following information is disclosed in respect of Stephen Roland William Francis, aged 57.

Current Directorships and Partnerships

Past Directorships and Partnerships over the last 5 years

Fairfax Partners Group Ltd

Oak Crown Meats Limited

Dixon Pork & Bacon Company Limited Parkam Foods Limited

Tranfoods Limited Dak (UK) Ltd.

Hafnia Ham Company Limited

Geo. Adams & Sons (Frozen Foods) Ltd. Geo. Adams & Sons (Pigs) Limited Flagship Foods Limited

Hygrade Foods Limited Normeat Company Limited Wolverhampton Sandwiches Limited Ess-Food UK Limited

Dalehead Foods Holdings Limited Dalehead Trustees Ltd

Fancy a Quickie Limited

Geo. Adams & Sons (Holdings) Limited Danish Deli Limited

Henry A. Lane & Company Limited Latona Foods Limited

Danwood Wales Limited Grampian Country Pork Limited Hykeham Capital Limited Hykeham Group Holdings Limited Global Source and Marketing Limited Danwood Limited

Insatsu Chosa Limited Hykeham Group Limited

Kent Photocopier Associates Limited

Kent Photocopier Services (London) Limited KPS Business Solutions Limited Document Express Limited

P H J Limited

KPS (Group) Limited

Lane Food Company Limited (The) Laxgate Limited

Trophy Foods Limited Danish Crown Foods Limited Flagship Fresh Meats Limited Prideaux Stables Limited Belvoir Foods Limited

Tulip International (UK) Limited Tulip Limited

Geo. Adams & Sons Limited

Tulip International (UK) Cooked Meat Division Limited

Tulip International (UK) Wellingborough Limited Meadowbrook Foods Limited

Gott Holdings Limited Dalehead Foods Limited Gott Foods Limited

Vjs Foods Limited Glenbrook Foods Limited

Danish Crown Holding (UK) Limited Roach Foods Limited

Danish Bacon Company Limited Adams Pork Products Limited

Geo. Adams & Sons (Farms) Limited Celebrity Food Factories (U.K.) Limited Foodane Limited

Plumrose Limited

VJS Holdings (U.K.) Limited Norman C. Roach & Son Limited Tulip Food Service Limited Printware Limited

Phoenix Office Supplies Limited The Danwood Group Limited

Further information relating to Stephen Francis

Stephen Francis was a director of Paramount Food Limited which went into administration in October 2012 and liquidation in January 2015. Stephen was not a director at the time; however, he resigned within the 12 months prior to the company entering administration.

Paramount Food Limited was a subsidiary of Vion Group and its administration was immaterial to the Vion Group.

Enquiries:

Patisserie Holdings plc

Luke Johnson, Executive Chairman

Nomad and Broker

Canaccord Genuity Limited Chris Connors

Henry Fitzgerald-O'Connor

Financial Public Relations Maitland

Sam Cartwright Jonathan Cook

[phone]

[phone]

[phone]

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