20 Jan 2010 07:00
Date: 20 January 2010
On behalf of: Finsbury Food Group plc ('Finsbury', 'the Company' or 'the Group')
Embargoed until: 0700hrs
Finsbury Food Group plc
Board Change and Pre Close Statement
Finsbury Food Group plc (AIM: FIF), a leading manufacturer of cake, bread and morning goods, is pleased to announce the appointment of Stephen Boyd as Group Finance Director. The appointment to the Board is with immediate effect.
Stephen Alexander Boyd, 47, has considerable industry experience and has held key positions at WT Foods, Noon Products and Golden Wonder, where he worked closely with John Duffy, who was appointed as Chief Executive of Finsbury in September 2009. Stephen's most recent role was with Food Investors LLP where he worked with a team to invest in private equity backed businesses and acted as a consultant to assist in enhancing company performance.
Stephen replaces Lisa Morgan who will step down from the Board with immediate effect and leave the Company following a handover period which is expected to be completed by the end of March 2010. Lisa was appointed as Group Finance Director in October 2006 having joined Memory Lane Cakes Ltd in 2000.
Prior to entering its closed period, Finsbury is pleased to confirm that the Company continues to trade in line with market expectations. An analyst briefing will be held at 0930hrs on 23 March 2010 at Panmure Gordon & Co.'s offices, Moorgate Hall, 155 Moorgate, London EC2M 6XB.
Commenting on the appointment, Chief Executive John Duffy said:
"We are very pleased that Stephen will be joining the Finsbury family and I look forward to working with him once again. He will be a great asset to the Group and we will reap the benefits of his extensive industry experience.
"On behalf of the Board, I would like to thank Lisa for her invaluable contribution to the Group. She has been an integral part of the team and a major force behind key developments in the Group over the last few years. We wish her all the best in her future career."
Stephen Boyd's directorships during the last five years are as follows:
| Current | Past |
| In Focus Public Networks Limited | Noon Products Limited |
| Food Investors LLP | Chadha Oriental Foods Limited |
| Enco Products Limited | |
| Funnybones Foodservice Limited (Formerly Rio Pacific Food Services Limited) | |
| Grace Foods UK Limited | |
| The Marketing and Advertising Partnership Limited | |
| Noon Group Limited | |
| Noon Products Limited | |
| WT (Holdings) Limited | |
| WT Tiger 2 Limited | |
| WT Tiger 3 Limited | |
| WTF Services Limited | |
| La Mexicana Quality Foods Limited (Formerly Matahari 154 Limited) | |
| St Neots Holdings Limited (Company Dissolved) | |
| Drenning Limited (Company Dissolved) | |
| Enco Foods Limited (Company Dissolved) | |
| Marlin House Trading Company Limited (Company Dissolved) | |
| Rio Pacific Food Services (Holdings) Limited (Company Dissolved) | |
| Triton Spices Limited (Company Dissolved) | |
| Pentagon Foods Limited (Company Dissolved) |
Save for the information disclosed above there is no other information to be disclosed under schedule 2, paragraph (g) of the AIM rules.
- ENDS -
For further information:
| Finsbury Food Group Plc John Duffy | www.finsburyfoods.co.uk 07901 514390 |
| Panmure Gordon Andrew Potts/Callum Stewart/Ashton Clanfield | 020 7459 3600 |
| Redleaf Communications Emma Kane/Rebecca Sanders-Hewett/Anna Dunkin | finsbury@redleafpr.com 020 7566 6700 |
Publication quality photographs are available via Redleaf Communications
Notes to Editors:
Finsbury is the second largest participant in the UK cake industry, a market valued at £1.51bn (TNS, January 2008) and the market leader in the supply of gluten free baked goods to the UK's multiple grocers; The Group's strategy is to generate returns for shareholders by building a crafted bakery group focused on premium, celebration and well being that delivers for customers and consumers. Finsbury continues to develop its licensed brand portfolio to complement its core retailer brand relationships and improve its understanding of and response to changing consumer needs; Whilst the Company sees exciting organic growth opportunities in all its businesses and its short-term focus is on integrating and growing its existing businesses, the aim is to take advantage of the right bolt on acquisitions to drive longer term value as opportunities and circumstance allow.