The change at the top comes as fierce competition in the retail market, increasing raw material prices, the loss of significant contracts and internal problems with productivity and pricing have hit Tulip, which will end the financial year by making a loss, reported Danish Crown.
Restructuring experience
Francis brings with him extensive experience from the meat industry and of restructuring and turning around manufacturing companies.
“We would like to thank Chris Thomas for his efforts over the past three years, and I wish him all the best in the future,” said Danish Crown group ceo Jais Valeur.
Francis is described by Danish Crown as an expert in solving complex problems in companies where “that’s what we usually do” no longer suffices.
“In the course of his career, our new ceo Steve Francis has on several occasions demonstrated that he is able to effect change within a short period of time,” added Valeur.
“Over the summer, we have realised that there are significant gains to be made through more focused efforts and closer cooperation with the rest of the group.
‘Regain our position’
“We want to regain our position as the preferred choice among consumers and customers in the key UK market. This task is now in the hands of Tulip’s new ceo.”
Francis said: “I am excited to be joining the leadership team at Tulip. Tulip is a great British business supported by a powerful parent and business partner in Danish Crown.
“I am convinced that working with passion for food, passion for farming and with pace, discipline and precision as a team we can overtake our rivals and return to our rightful position as the number one player in pork.”
In January this year, pork processor Tulip announced plans to move its cooked meat operations from Bodmin in Cornwall to other sites in the UK, putting 430 jobs at risk.
The decision to change its existing manufacturing operation was made as a result of supplier reviews with some of Tulip's customers, the business claimed.
Under its proposal, Tulip also intended to expand the cooked bacon operations at its Bodmin facility.
Steve Francis in brief
Steve Francis holds a Master’s degree in Physics from Oxford University. He has worked for international companies such as McKinsey, PwC and Barclays, and has held a number of executive positions with the Dutch slaughterhouse group Vion Food Group.
Most recently, he was ceo of the UK company Danwood, where he successfully turned a loss of more than £9.04M into a profit of more than £5.66M within the space of 12 months.
Francis’s CV:
2012–2015: Danwood Group, ceo
2008–2012: Vion Food Group, chief operating officer (coo) / chief financial officer (cfo) then md, Pork Business Unit
2005–2007: British Vita, coo / cfo
2003–2005: MNS Partners, founder and partner
2001–2003: Barclays Capital, md and head of corporate finance
1999–2001: PwC, lead partner European mergers and acquisitions
1997–1999: AT Kearney, vice president. Head, northern European strategy
1992–1997: McKinsey & Company, senior engagement manager
1988–1992: Brent Chemicals, divisional director and head of corporate development
1985–1988: County Natwest, assistant director
1983–1985: First Chicago, graduate trainee
1983: MA, physics, University of Oxford