Finsbury Foods has appointed Stephen Boyd as its new group finance director, with immediate effect. Boyd has previously held key positions at WT Foods, Noon Products and Golden Wonder, where he worked alongside current Finsbury chief executive John Duffy.

He replaces Lisa Morgan, who will step down from the board with immediate effect and will leave the company following a hand-over period, which is expected to be completed by the end of March 2010.

Boyd most recently worked at Food Investors LLP, which invests in private equity-backed businesses, where he also acted as a consultant to assist in enhancing company performance.

“We are very pleased that Stephen will be joining the Finsbury family and I look forward to working with him once again. He will be a great asset to the group and we will reap the benefits of his extensive industry experience,” commented Duffy.

The cake, bread and morning goods manufacturer also announced it is continuing to trade in line with market expectations.