City analysts were given further evidence that “the revolving door continues to spin” at Premier Foods when executive director and chief financial officer Mark Moran quit the firm in September.
Moran’s decision to quit the debt-laden manufacturer followed a request to commit to at least three more years at the firm, claimed Panmure Gordon director of equities Graham Jones.
“He, like the previous ceo, obviously didn’t feel like sticking around that long, and as such steps down next week, on September 30,” Jones added.
However, Moran said: “I’m proud of what we’ve been able to achieve so far in putting Premier Foods back on a road to growth. My decision to leave is entirely personal and I wish Gavin and the company all the best for the future.”
Former chief financial officer of Dairy Crest Alastair Murray replaced Moran, tasked with putting the balance sheet on a more sustainable footing.