Fresh prepared food manufacturer Bakkavor Group has announced that Agust Gudmundsson, the group’s chief executive officer and co-founder, has confirmed his intention to retire, effective 31 October 2022.
Gudmundsson, who founded the business 36 years ago with his brother and group board member Lydur Gudmundsson, will remain a significant shareholder of the company and become a non-executive director on the board.
Commenting on the announcement, Simon Burke, chairperson said, "The founding and building of Bakkavor by Agust, along with his brother Lydur and their colleagues, has all the hallmarks of a great entrepreneurial endeavour. It has created a first-class business with strong market positions and great opportunities, one of the global leaders in its sector.
"Vision, courage, steadfastness, loyalty and the highest standards of professionalism have all been key elements of Agust’s leadership. I have been proud to work with him and am very glad that we will continue to benefit from his input as a member of our board."
Commenting on his impending departure, 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."
Following a thorough search of the market to identify a successor, the group has appointed Mike Edwards, the current chief operating officer of Bakkavor’s UK unit, as Gudmundsson's successor.
Edwards will commence his role as group CEO on 1 November 2022.
Edwards joined Bakkavor in 2001 and worked his way up through the company via a series of challenging and demanding roles before entering his current role in 2014.
His leadership of the UK business has been commended by the group and has made a strong contribution to the group's board, which he joined in December 2020.
Burke stated, “One of the characteristics of a successful leader is the quality of the team they build around them, and there is no better testament to this than the appointment of Mike as our new CEO.
"Mike has delivered operational excellence, strong customer relationships and consistent commercial performance in our UK business and I am greatly looking forward to working with him on the next stage of Bakkavor’s development.”
© 2022 European Supermarket Magazine – your source for the latest A-Brands news. Article by Conor Farrelly. Click subscribe to sign up to ESM: European Supermarket Magazine.