Simon Mowbray
Golden Wonder chief executive Paul Monk is leaving to set up his own venture capital company.
The move comes after Monk, who steered the company through last year's takeover by Middle East fmcg giant Longulf, stayed at the helm during one of the most turbulent eras in the company's history.
A fallout of last year's takeover was the loss of the company's most profitable brand, Wotsits, to arch rival Walkers along with its prized fleet of more than 100 vans. Monk's announcement comes as Golden Wonder embarks on its biggest ever advertising push. The company said the appointment of a new chief executive would be announced "in due course".
Monk, a key member of the management team which bought Golden Wonder in 1996, was appointed chief executive by new owner Longulf last summer as it began to integrate its new acquisition with its Snack Factory business.
But Monk said the time was now right to leave as he had achieved his primary objective of "restructuring the business and laying the foundations for future growth. I am leaving the company in very good shape," he added.