James (pictured), who joined in April 2013, will retain a non-executive role as an advisor to the Young’s Holding Group board.
Bill Showalter, currently Chief Financial Officer of the Holdings Group, will assume the responsibilities of CEO in addition to his existing duties. This will include financial control and corporate governance over the group’s remaining operations.
No changes will be made at the operating company level, where Pete Ward continues to hold full executive responsibility for the affairs of the company, as Chief Executive of Young’s Seafood Limited.
Dale Morrison, Chairman of the Holdings Group board, commented: “I’d like to thank James profusely for his contribution to the group. Under his leadership, we have been able to grow turnover and profit in each of the last three years, make important acquisitions and participate in a landmark transaction within the European food industry – no mean feat for a company that had previously endured challenging times. My congratulations also go to Bill, who has also been instrumental to the Holdings Group’s recent progress and who is fully capable of expanding his remit to include CEO duties.”
James Hill, outgoing CEO of the Holdings Group, said: “I’ve thoroughly enjoyed these last three years and I am proud of what the team has achieved. Having driven significant growth, and following the sale of the international Findus business, now is the right time to move on. I’d like to give very best wishes for the remainder of the group, our dedicated and committed employees, and those who will lead the company. I look forward to helping to facilitate a smooth transition and to contributing through a non-executive role on the board.”
Bill Showalter, Chief Financial Officer and CEO designate of the Holdings Group, said: “I am delighted to be taking on this additional responsibility and to continue working closely with Pete Ward, Chief Executive of Young’s Seafood Limited, the UK operating company. Young’s Seafood Limited is a great company, with a strong brand, a talented team, supportive shareholders and a bright future ahead of it.”