Gluten-free bakery specialist Genius Foods has announced Stephen Hann will take over from Adam Smart as its CEO next year.
The Edinburgh-based supplier confirmed that Hann, the current CEO of wrapper-free snack brand One Good Thing, is to guide the next phase of its development from January 2025. Smart, meanwhile, is stepping down from the board after just over a year and a half in the role.
Genius noted that, under Smart’s leadership and with a £7.5m asset-based loan secured in April 2023, important steps had been taken to streamline its operations, optimise logistics, and refine the product portfolio. A particular focus had been on developing the sweet treats & rolls category, it said, with Triple Chocolate Fudgy Brownies recently launched into Sainsbury’s.
Smart had built a strong team and well positioned the brand for its next growth phase, added Genius.
Hann brings over 20 years of FMCG experience of building and scaling businesses with a clear focus on operational excellence. Prior to joining One Good Thing at the start of this year, he worked in senior positions at Graze, the Kraft Heinz Company, and Danone.
“I’m thrilled to be joining Genius Foods at such a pivotal time,” commented Hann. “This is a company with incredible growth potential, and I’m eager to build on the strong foundation laid by Adam, driving the business toward new heights in operational efficiency and market expansion.”
Smart called it a “rewarding challenge” to have lead Genius through its period of reorganisation. “With the strong foundations we have established, I am confident that Genius Foods will continue to thrive under Stephen Hann’s leadership,” he said.
Founded in 2009, Genius supplies gluten-free bakery products including bread, morning goods, rolls and artisan loaves to all major UK supermarkets and several independent grocery retailers.
It was acquired by German confectionery group Katjes in mid-2022, with its most recently filed accounts for that year showing revenue growth of 6%, up to £31.2m from £29.5m in 2021. However, substantial increases in ingredients, labour, energy, and shipping costs saw it record a £2.4m loss from continuing operations, compounding the £1.5m loss from the previous year.
Genius is one of the gluten-free brands aiming to continue reducing the gap with conventional bakery – it relaunched its bestselling range of sliced loaves last year with a new recipe billed as its “best ever bread”.
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