Cranswick Regulatory News (CWK)

18 May 2021

Cranswick plc

("Cranswick" or "the Company" or "the Group")

Change of Chairmanship

Cranswick, a leading UK food producer, announces that Martin Davey has indicated his intention to retire from his role as Executive Chairman of the Company, and will step down from the Board, at Cranswick's AGM on 26 July 2021. When he steps down Martin will have served as a Director for 36 years and as Chairman since 2004. Martin will remain with the Company in an advisory capacity until May 2022.

Martin and his colleagues took Cranswick from its farmer-owned, animal feed origins onto the UK Stock Market in 1985, valued at £5m, and developed it into the c. £2bn market cap. FTSE250 leading food producer that it is today. The process to identify and appoint a new Chairman was undertaken in accordance with corporate governance guidelines and included the use of independent search consultants. After due consideration the Board has decided to appoint current Non-Executive Director, Tim Smith, as Martin's successor with effect from the conclusion of the Company's AGM. Tim will also be appointed Chair of the Company's Nomination Committee.

Tim Smith, Non-Executive Director and Chairman elect, commented "On behalf of all the Board, I thank Martin for his dedicated service to the Group and wish him well for the future. Martin and his team have developed an outstanding business and I am honoured to succeed Martin as Chairman. I look forward to working with the Board and colleagues across the business to continue the Group's successful long-term growth and development."

Adam Couch, Cranswick's Chief Executive Officer, commented "Much of what Cranswick is today in terms of its culture and ethos reflects Martin's character and personality. On a personal note, he has been an inspiration, mentor, wise counsel and friend to me in equal measure and, on behalf of all at Cranswick, I would like to thank Martin for his invaluable contribution to the Group over the last 36 years. I wish him, his wife Linda and their family all the very best for the future."

Enquiries:

Notes:

1. Cranswick is a leading and innovative supplier of premium, fresh and added value food products. The business employs over 12,600 people and operates from sixteen well invested, highly efficient production facilities in the UK. Cranswick was formed in the early 1970s by farmers in East Yorkshire to produce animal feed and has since evolved into a business which produces a range of high quality, predominantly fresh food, including fresh pork, poultry, convenience and gourmet products. Through the Group's four primary processing and twelve added value processing facilities the business develops innovative, great tasting food products to the highest standards of food safety and traceability. The Group supplies the major grocery multiples as well as the growing premium and discounter retail channels. Cranswick also has a strong presence in the 'food-to-go' sector and a rapidly growing export business. For more information go to: www.cranswick.plc.uk

2. Tim Smith was appointed as an Independent Non-Executive Director of Cranswick in 2018. Tim has experience in the UK food sector having worked in food manufacturing, government regulation and supermarket retail. Tim was the Group Quality Director at Tesco plc between 2012 and 2017. Prior to joining Tesco plc, Tim was the Chief Executive of the Food Standards Agency (FSA) during which time he led a strategic review of the agency. Before joining the FSA, Tim led a number of businesses including Arla Foods plc. Tim is also a Non-Executive Director of Pret a Manger (Europe) Limited and Chair of the UK Trade and Agriculture Commission.

3. There are no further disclosures required for the purposes of Listing Rule 9.6.11.

4. Cranswick is committed to ensuring that its business activities are sustainable from farm-to-fork. Our ambitious sustainability strategy 'Second Nature' has been developed to deliver our vision to become the world's most sustainable meat business. Find out more at: www.thisissecondnature.co.uk