Greggs hires Bakkavor executive as new CFO as Richard Hutton to depart

Greggs PLC on Wednesday said it has hired a former executive of convenience food maker Bakkavor to be its new chief financial officer.

The move comes as Greggs said its long-serving finance chief,Richard Hutton, will step down as CFO and from the board at the end of this year.

Greggs shares were down 5.0% to 1,520.00 pence each on Wednesday morning in London.

The Newcastle-upon-Tyne-based bakery chain noted that Hutton has been with the company for 28 years, including 20 years on the board.

Greggs said it appointed Ben Waldron as its new CFO and executive director. He will join on October 27 as CFO-designate and as a director and become CFO on January 1.

Waldron previously worked for fresh prepared food firm Bakkavor Group PLC, where he was CFO and also held senior operational roles. Bakkavor was bought for £1.2 billion by Greencore Group PLC in January.

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