Home baking specialist Fiddes Payne has continued to shake up its senior management team as it looks to a new CEO with experience at Coca-Cola and Lucozade to continue its strong growth.
The departure of finance director Robert Moorhouse and commercial director Mark Grahame follows the December exit of MD Iain Macpherson after eight years.
Fiddes Payne owners the White family have turned to Norman Brodie as interim CEO tasked with building a new management team. Brodie, who has been in the role since early 2016, has more than 18 years’ experience in food and drink. Previous roles included a spell as interim chief marketing officer at Lucozade Ribena Suntory, three years as general manager at Kraft, eight years as marketing director at Coca-Cola Enterprises and a short time in the marketing team of at KP McVitie’s Snacks.
Fiddes Payne declined to comment while it was in the process of replacing Moorhouse and Grahame.
Formed in 1993, Fiddes supplies the major mults with the Cake Angels baking brand, Disney and Pixar cake decorations and a range of Jamie Oliver herbs and spices. The business has been for sale since early 2014 when majority shareholder Ben White appointed Spayne Lindsay to target potential investors, but a deal has yet to be concluded.
Former MD Macpherson and FD Moorhouse steered Fiddes Payne through a period of rapid growth, recording five consecutive years of double-digit turnover rises from 2009 to 2013.
Fiddes returned to double-digit growth in the year to 28 June 2015, with revenues up 14% to £17.6m and pre-tax profits rising 20% to £1.5m, according to the latest available accounts at Companies House.
Its licensed home baking products for the likes of Spiderman, Toy Story and Mickey Mouse have played a major part in its growth, with more than one million Disney Frozen cupcake kits shipped to date.
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