Premier Foods has announced the appointment of Daniel Wosner as a non-executive director of the company, effective 1 March.
Wosner is also managing director and head of Europe at Oasis Management Company, an international investment firm and the company’s second-largest shareholder. Before joining Oasis in 2016, he held senior investment banking roles at Barclays and Lehman Brothers.
David Beever, chairman of Premier, said: “We are pleased to welcome Daniel and look forward to working with him to drive the company’s long-term value and enhance value for all shareholders.
“Daniel’s perspective and experience will be a valuable addition to the team as we continue our effort to maximise the potential of our category-leading brands, strong customer partnerships and supply chain expertise."
Wosner added: “We appreciate the constructive engagement that we have had with Premier Foods chairman David Beever and the executive leadership team, and I welcome the opportunity to join the board.
“I look forward to working with chief executive officer Gavin Darby, and his colleagues to achieve the full potential and value from the company’s outstanding brand portfolio.”
Wosner will be appointed to the remuneration committee of the board. Oasis will acquire in aggregate 10% of the ordinary share capital of the company by 30 June 2018.
The relationship agreement with Oasis, and Wosner’s tenure as a non-executive director, will continue until the day following the 2019 AGM, unless extended.
For the term of the relationship agreement, Oasis is to hold a minimum of 7% and a maximum of 15% shareholding in the company.