Bakkavor promotes new CFO from within after incumbent steps down

The decision was made after current group chief financial officer, Asia CEO and executive director Ben Waldron announced that he would be stepping down.

Waldron has spent almost 14 years at Bakkavor but is relocating to Australia. He will step down from the board on 31 October 2024, but will remain with the company until the end of April 2025 to ensure a smooth handover and transition to the new CFO.

During his time at Bakkavor, Waldron led on the firm’s IPO in 2017 and was CEO of its US business during the Covid-19 pandemic.

Miley will take on the role as CFO and executive director from 1 November 2024. He joined the firm in 1998 and has held numerous roles within finance and as well as gaining additional experience while responsible for the group’s approach to M&A, operational excellence and ESG at various times.

‘Rigorous appointment process’

Commenting on the changes, Bakkavor chair Simon Burke said: “Ben has been a most excellent CFO and a pleasure to work with. We are very sorry to see him go, but we wish him well in Australia. Meanwhile we are really pleased to be appointing Lee as our new CFO, confirming our succession planning following a rigorous appointment process which included internal and external candidates.”​

Meanwhile, chief executive Mike Edwards credited Waldron for playing a leading role in improving the firm’s financial performance and transforming its investor relations function.

“On behalf of all of us, I would like to thank him for his significant contribution over the years and on a personal note I would like to thank him for his steadfast support to me in my time as CEO,”​ added Edwards.

“I am, however, delighted that Lee Miley is stepping into the role of CFO. He has a wealth of experience both of our industry and our business which made him the standout candidate and his appointment will ensure we maintain the momentum we have recently established. I look forward to working with Lee again and congratulate him on his appointment.”​

Meanwhile, Bakkavor has proposed the closure of a manufacturing site in Wigan, putting 750 jobs at threat.​​ The firm described the move as a “difficult decision”​​ and committed to offering colleagues alternative roles within the business where possible.

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