Findus Group CEO Chris Britton is to step down at the end of the year.

After Findus and its bankers last week agreed a major restructuring resulting in a £220m cash injection for the group, Britton said: “I have led a great business through a critical phase in its development, and am proud of what we’ve achieved, but I believe it is the right time for me to leave and for my successor to guide Findus through the next exciting phase in its development.”

While there continues to be speculation that Findus will be broken up, Britton added that the search for his successor had already begun and that he would work closely with the company to ensure a smooth transition.