Greggs PLC
09 April 2008
9 April 2008
GREGGS plc ("GREGGS")
APPOINTMENT OF NEW CHIEF EXECUTIVE
The Board of Greggs is pleased to announce the appointment of Ken McMeikan as
Chief Executive of the Group. He will join the Board on 1 June 2008.
Ken McMeikan, 42, is currently Retail Director of J Sainsbury plc, and has
played a major part in their progress since he joined them in 2005 after a short
period as chief executive of Tesco Japan. Prior to this he had spent 14 years in
operational roles with Tesco, becoming chief executive of the Europa Foods
convenience store business following its acquisition in 2002, with
responsibility for its integration into the Tesco Express format.
Sir Michael Darrington will retire from his full time position as Group Managing
Director of Greggs at the end of July 2008. Sir Michael joined the business in
July 1983, and became Managing Director the following January. He will remain on
the Board of Greggs as a Non-Executive Director.
Derek Netherton, Chairman, said "When we began the process to find a successor
to Mike Darrington, we recognised that he would be an extremely hard act to
follow. We are therefore delighted to have found in Ken McMeikan a person with
the right mix of abilities and personal qualities to lead the business in the
next stage of its development. His considerable retailing experience, gained
with both Sainsbury's and Tesco, will greatly complement the skills and
expertise that already exist within the Greggs senior team.
"On behalf of the Board I would like to thank Mike most sincerely for his
outstanding contribution to the considerable growth and development of the
business over the last 25 years, and particularly for his strong and unflagging
leadership."
Sir Michael Darrington said "I am really pleased to be handing on my executive
responsibilities at Greggs to someone who fully understands and shares the
unique values of the business, and possesses the right people skills to
implement the next phase of our strategy. From time to time it is good for any
business to refresh and augment its capabilities through external recruitment,
as it was when I joined Greggs in 1983. Ken's experience will strengthen our
already excellent top team, and will prove particularly relevant and helpful in
progressing the development of Greggs as a much more unified and
customer-focused national brand."
Greggs plc confirms that it has been advised by Ken McMeikan that there is
nothing further to disclose in relation to Rule 9.6.13 of the Listing Rules.
ENQUIRIES:
Greggs plc Hudson Sandler
Derek Netherton, Chairman Michael Sandler / Wendy Baker
Tel: 020 7796 4133 Tel: 020 7796 4133
Sir Michael Darrington, Managing Director
Tel: 0191 281 7721
This information is provided by RNS
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