Plant-based meat manufacturer This has lost two directors amid a plan to pivot its strategy back towards sales growth.
Operations director Daniel Angadi leaves after four years having transformed the company’s supply chain and moved the company from 18 manufacturers to two.
Debbie Epstein came out of retirement to join This as its marketing director two years ago. She will now return to retirement.
Writing on LinkedIn, CEO Mark Cuddigan said both had been “intrinsic to our success” and left “wonderful handprints on our culture”.
This is in the midst of a turnaround under Cuddigan, having slipped from the fastest-growing fmcg brand in 2023 to a 4% fall in revenue last year.
Cuddigan took over in 2024 and shifted the focus away from revenue growth in favour of boosting margins and cutting costs.
While revenue has slipped, gross margins jumped to almost 19% last year. This week, Cuddigan praised Angadi’s contribution to this through his work streamlining the company’s manufacturing footprint.
Earlier this year, co-founder Andy Shovel said This had registered its first-ever net profitable month in December, with annualised gross revenues of £24m and a net profit of £56k.
“Will it be a few months until we’re reliably profitable every month? Yep. Has it taken a year or two longer than we wanted? Yessir. But it’s a huge moment for the business, and frankly – for the slightly bruised plant-based sector as a whole,” he wrote at the time.
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