Former Premier Foods boss Michael Clarke may play a pivotal role in the future of Lucozade and Ribena after reports linked him to a firm believed to be considering a bid for the brands.
The coming year looks set to be a pivotal one for Premier Foods. City analysts suggest that the UK's largest food producer would need to have turned around its fortunes by 2014 or risk breaching its financial covenants.
A total of nearly £3.5M was paid to Premier Food’s executives last year, with new md Michael Clarke receiving a golden hello payment of £1.94M upon joining the firm eight months ago.
Premier Foods boss Michael Clarke has received a resounding vote of confidence from city analysts, six months into his role, as he continues his plan to guide the firm out of trouble.
City analysts have cast doubt on Premier Foods’ Power Brand plan fearing the necessary disposals will not be achievable due to the firm’s “substantial” debt levels.
