Last week's announcement that Patrick Coveney, the chief executive of Greencore, is to spend approximately half his time in the US suggests that there are "material challenges ahead" and "no quick fix" to the company's issues, a leading analyst has suggested.
Darren Shirley of Shore Capital Stockbrokers said that the agency is downgrading its recommendation on Greencore stock from buy to hold, suggesting that the "transformative" acquisition of Peacock Foods in late 2016 has presented more challenges than solutions.
