(Reuters) -Britain's Hilton Food said on Tuesday Steve Murrells is stepping down as its chief executive officer, with Mark Allen transitioning to an executive chair role, as the meat and seafood
Hilton Food CEO Steve Murrells to Resign Amid Challenges
(Reuters) -Britain's Hilton Food said on Tuesday Steve Murrells is stepping down as its chief executive officer, with Mark Allen transitioning to an executive chair role, as the meat and seafood supplier considers CEO succession.
The company has faced severe operational challenges in its seafood division and persistent inflation, leading to a profit warning and a share price drop earlier this month, as it also tackles restrictions on U.S. shipments from its Greek facility.
The company on Tuesday reiterated its warning that growth is likely to be challenging, but said it remains in a strong financial position and annual performance is expected to be in line with its previous expectation.
Murrells has been at the helm for over two years and is expected to provide transitional support through the end of December as the company banks on Allen's varied experience in the food and consumer goods industry to drive leadership.
(Reporting by Nithyashree R B and Pushkala Aripaka in Bengaluru; Editing by Rashmi Aich and Subhranshu Sahu)
