Michael clarke premier foods biography of christopher

Hovis and Mr Kipling boss Michael Clarke has quit just 18 months into a major turnaround of parent group Premier Foods.

The departure of chief executive Mr Clarke, who joined the company from Kraft Foods in 2011 and was widely seen as good for the debt-laden food group, shocked the City yesterday.

Premier’s shares slumped by more than 12 per cent on the news, but the firm moved swiftly to replace Mr Clarke, appointing Gavin Darby, who was the boss of Cable & Wireless Worldwide until its takeover last year.

The company said Mr Clarke, who is leaving in order to pursue other business opportunities, had delivered the initial turnaround of the company and set it on a course for sustainable profitable growth.

However, Clive Black, retail analyst at Shore Capital, said: ‘The remedial work that he undertook to fundamentally allow Premier to survive merits commendation.

‘However, that he is going just as the business needs to