Bakkavor, the maker of fresh prepared food for the supermarket multiples, has announced that its Chief Executive Agust Gudmundsson plans to retire at the end of next month.
He will be replaced by the group’s current Chief Operating Officer, Mike Edwards. He joined the company in 2001 as a manufacturing manager at one of its pizza factories. In 2014, he was promoted to COO and joined the company’s board in December 2020.
Gudmundsson, who founded the business 36 years ago with his brother Lydur Gudmundsson, will remain a “significant shareholder” in the business and become a Non-Executive Director.
Commenting on his departure from the role, Gudmundsson said: “After 36 years at the helm, I am incredibly proud of the company we have built and the teams and people I have worked with during this time. The past few years have demonstrated the strength and resilience of Bakkavor and I am confident of the Group’s success for the future.
“I am particularly pleased that Mike will be spearheading the Group’s future direction. He has provided trusted counsel to me for over 15 years and has delivered both growth and stability in the most challenging of environments. I wish him all the very best success in this new role and opportunity.”
Edwards added: “Whilst this is a particularly challenging environment, I absolutely believe challenges create opportunities and we are incredibly well placed, as a Bakkavor team, to move forward positively and purposefully delivering for colleagues, customers and shareholders.”
