Own-label cake supplier Finsbury Food Group has named John Duffy as its new CEO.

Duffy joined Finsbury last September as chief operating officer following a management restructure on the departure of CEO Dave Brooks.

Duffy, who was previously managing director of WT Foods, had considerable experience in the ­industry, said Finsbury, adding that he had "ably assisted" Martin Lightbody, who has been CEO since Brooks' departure.

Lightbody will become non-executive chairman on 25 November, when chairman David Marshall will step down from the role. Marshall will become ­deputy chairman from that date.

Finsbury this week reported a 2% increase in full-year like-for-like sales. Adjusted pre-tax profits for the year to 30 June dropped 35% to £5m, although sales rose 8.4% during the period to £178.9m.

The company blamed a difficult trading environment and costs associated with reorganising the ­business for the drop in profits.

"We have spent the past year integrating our business to drive improvements in efficiency and service," said Lightbody.

Topics