European bakery manufacturer Baker & Baker has appointed Matthew Acheson as its group CEO, succeeding John Lindsay in the role.
Matthew Acheson, who has served as CFO of Baker & Baker and the previous CSM Bakery Solutions business since 2017, was officially appointed to the role from 1 January.
The business, which specialises in the production of sweet treats, said Acheson’s appointment reflects his ‘dedication and success’ in driving its performance over the previous seven years as CFO. His deep financial experience and understanding of the business acquired during the last 15 years, in conjunction with Baker & Baker’s experienced leadership team, will deliver a seamless transition as it seeks to deliver further growth in 2025 and beyond, it added.
Lindsay, who has served as CEO of Baker & Baker and the previous CSM business since 2016, has stepped down and moved into a strategic advisory role until 1 May 2025, when he will formally retire. Thereafter he will take up a non-executive director position with the company.
He has held numerous management roles since joining in 1987, and following senior UK and European positions, he was appointed VP of modern trade Europe at CSM Bakery Solutions in 2014 before assuming the CEO position. The firm described him as ‘pivotal’ in the establishment and development of the bakery products business since its beginnings in the mid-nineties.
Paul Jones, meanwhile, has succeeded Acheson as Baker & Baker’s group CFO. He has served as UK finance director since 2021, and his promotion to the CFO role reflects his hard work in driving financial growth in the UK business over the previous three years, Baker & Baker noted. Jones has also joined Baker & Baker’s senior leadership team, which comprises six individuals in total.
Marianne Kirkegaard, executive chairman of the board of Baker & Baker, congratulated Acheson on his appointment and expressed his confidence, trust, and support to lead the company.
“Since the creation of the standalone bakery products business Baker & Baker in 2021, John and Matthew have worked tirelessly and effectively to drive growth, enter new markets and navigate a series of geopolitical and industry challenges. Supported by a strong leadership team, we are excited about the next chapter for Baker & Baker,” Kirkegaard said.
“I would also like to pay tribute to John for his many years of impeccable service – and in particular his fantastic leadership of the business since 2016, including the transition, establishment and success of Baker & Baker as a new business entity.”
Acheson added that he was “extremely pleased to be entrusted with leading Baker & Baker” as it looks to expand its presence and distribution in markets throughout Europe and further afield.
Baker & Baker UK’s latest financial results reported a double-digit increase in revenue but profits were dampened by rising commodity prices. However, this lagged behind the wider group which saw an increase in revenue, gross profit, and adjusted EBITDA for 2023.
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