Bakkavor Group PLC Directorate Change (4423W)

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RNS Number : 4423W

Bakkavor Group PLC

18 August 2020

18 August 2020

Bakkavor Group plc (the 'Company' or 'Bakkavor')

Directorate Change

Bakkavor announces that Todd Krasnow, Independent Non-executive Director and Chair of the Nomination Committee, has notified the Company that he intends to step down from the Board on 19 October 2020 following the completion of his initial three-year term and following the Company's Initial Public Offering in November 2017.

Bakkavor also announces the appointment of Umran Beba, who will join the Board of Bakkavor on 1 September 2020 as an Independent Non-executive Director and as a member of the Remuneration and Nomination Committees. Simon Burke, Chairman of the Company, will become Chairman of the Nomination Committee from 19 October 2020.

Umran Beba is an experienced senior business executive with a general management background and significant expertise in talent and diversity. She is currently a partner at August Leadership, having joined the executive search firm in June 2020. Prior to this Umran worked at PepsiCo Inc, the global food and beverage company, for 25 years, retiring in May 2020. She held a number of roles during her time at PepsiCo; her last role was Senior Vice President, Chief Global Diversity and Engagement Officer. Previous roles include commercial and functional roles in Asia Pacific and South East Europe, as well as Chief Human Resources Officer for Asia, Middle East, North Africa and Senior Vice President Global Human Capital Management. Umran started her career with Co lgate Palmolive in various marketing roles before moving to PepsiCo in the Frito-Lay division as Marketing Director for Turkey.

A native of Turkey, Umran earned her MBA and Bachelor of Science in Industrial Engineering from Bogaziçi University in Istanbul. From 2010 to 2015, she served as an independent Non-executive Director on the board of Calbee, Inc, a major Japanese snack foods manufacturer. She is currently on the boards of the International Youth Foundation and Neighbors Link, a trustee at Purchase College Foundation, and for eight years until June 2020, was a Future Council Member of the World Economic Forum.

Simon Burke, Chairman, said: "On behalf of the Board, I would like to thank Todd for his significant contribution to Bakkavor over the past three years. We have benefitted greatly from his counsel following the Company's Initial Public Offering. Todd will leave us with the Board's gratitude and best wishes.

"I am delighted to welcome Umran to the Board. Umran is an international executive with strong exposure to the food and beverage sector and a track record of implementing change to operational aspects of a large global business in a wide range of roles. Umran brings a strong and relevant commercial outlook through her experience of running food and beverage operations in numerous regions, including Turkey, the Middle East, Asia Pacific and the US. This skill set, combined with her more recent global role in the area of workforce diversity and employee engagement, will further strengthen the diverse mix of skills and experience on the Board. We very much look forward to Umran joining us."

Umran Beba, said: "I am honoured to join the board of Bakkavor Group plc, which has a great purpose and mission and holds values that are in line with my personal values. I look forward to applying my commercial and functional knowledge and experience of the consumer goods industry, specifically the food and beverage market, to support Bakkavor. I am also excited to work with experienced leaders, both at Board and management level, to create value together for the shareholders, consumers, customers and the associates of this Company."

Notes:

There is no further information to be disclosed pursuant to Listing Rule 9.6.13.

In accordance with section 430(2B) of the Companies Act 2006, the Company confirms that Todd Krasnow will receive his fees up to the date of ceasing to be a Director. No other payments will be made on, or in connection with, the loss of office.

ENQUIRIES

Institutional investors and analysts:

Peter Gates, Chief Financial Officer

Sally Barrett-Jolley, Head of Corporate Affairs [phone]

Media:

Tulchan Communications [phone]

Will Smith

ABOUT BAKKAVOR

Bakkavor is the leading provider of fresh prepared food ("FPF") in the UK, with a growing international presence in the US and China. The Group is the number one by market share in the UK in the four FPF product categories of meals, salads, desserts and pizza & bread, providing high-quality, fresh, healthy and convenient food. Its customers include some of the UK's leading grocery retailers, including Tesco, Marks & Spencer, Sainsbury's and Waitrose. The Group's International segment operates in the US and China. Bakkavor was founded in 1986 and has its headquarters in London. The Group has over 20,000 employees and operates 25 factories in the UK, 5 in the US and 9 in China.

DISCLAIMER - forward-LOOKING STATEMENTS

This statement, prepared by Bakkavor Group plc (the "Company"), may contain forward-looking statements about Bakkavor Group plc and its subsidiaries (the "Group"). Forward-looking statements involve uncertainties because they relate to events, and depend on circumstances, that will, or may, occur in the future. If the assumptions on which the Group bases its forward-looking statements change, actual results may differ from those expressed in such statements. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update these forward-looking statements. Nothing in this statement should be construed as a profit forecast. Some numbers and period on period percentages in this statement have been rounded or adjusted in order to ensure consistency with the financial information.

LEI number: 213800COL7AD54YU9949

Classification: 3.1 (with reference to DTR6 Annex 1R)

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August 18, 2020 03:35 ET (07:35 GMT)