Investor and Dragons’ Den star Steven Bartlett has stepped down from the board of fast-growing meal replacement brand Huel.
Filings at Companies House confirmed Bartlett and fellow non-executive Emma Woods were no longer directors at the business.
Bartlett, who is also an investor in other food and drink brands such as Zoe and PerfectTed, has been a director at Huel since early 2021. It is understood he retains a small stake in Huel.
Woods, a former CEO of Wagamama and ex-marketing director at Unilever, joined the business in 2022.
“Steve has recently moved to LA and is involved with so many businesses that’s it’s hard for him to commit time to a Huel board role,” said a spokesman for the brand. “He remains an investor in the business.
“Emma will continue to be a supporter of Huel as she steps away from a board position.
“Huel has had a great partnership with Steven and Emma, and we are very grateful for the part they have played in the company’s success.”
“Steve has recently moved to LA and is involved with so many businesses that’s it’s hard for him to commit time to a Huel board role. He remains an investor in the business. Emma will continue to be a supporter of Huel as she steps away from a board position.”
Bartlett’s time at Huel was not without controversy, with the company last year receiving a slap on the wrist from the Advertising Standards Authority for running “misleading” ads featuring the Diary of a CEO podcast host.
Revenues at Huel soared past £200m in the year to 31 July 2024, as the e-commerce operation continued to grow and the grocery division expanded its offering and increased its retail presence significantly.
Pre-tax profits at the group tripled from £4.7m to £13.8m, as the company benefited from improved economies of scale, newfound efficiencies and NPD.
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