Fierce competition in the retail market, increasing raw material prices, the loss of significant contracts and internal issues with productivity and pricing are amongst the challenges currently facing Danish Crown’s UK subsidiary Tulip Ltd.
The company will end the year with a loss. As a consequence of the challenges facing the business Chris Thomas has stepped down from his role as CEO and Steve Francis has been appointed as the new CEO with immediate effect from 5th September.
“We would like to thank Chris Thomas for his efforts over the past three years, and I wish him all the best in the future”, says Danish Crown Group CEO Jais Valeur.
Steve Francis comes to Tulip Ltd. with extensive international experience of turning around companies which are facing difficulties. He has experience from several sectors, including the food and the meat industries, and he is described as an expert in solving complex problems in companies where “that’s what we usually do” no longer suffices.
“In the course of his career, our new CEO Steve Francis has on several occasions demonstrated that he is able to effect change within a short period of time. Over the summer, we have realised that there are significant gains to be made through more focused efforts and closer cooperation with the rest of the group. We want to regain our position as the preferred choice among consumers and customers in the key UK market. This task is now in the hands of Tulip Ltd’s new CEO,” says Jais Valeur.
“I am excited to be joining the leadership team at Tulip. Tulip is a great British business supported by a powerful parent & business partner in Danish Crown. I am convinced that working with Passion for Food, Passion for Farming and with pace, discipline and precision as a team we can overtake our rivals and return to our rightful position as the #1 player in Pork”, says Steve Francis.
Source: Danish Crown
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