The new year has ushered in a fresh chapter for Baker & Baker, with Mathew Acheson assuming the role of group CEO on 1 January.
Acheson steps into this position following a 7-year stint as chief financial officer, taking over from previous CEO John Lindsay.
Lindsay served at the helm for almost a decade, holding numerous management roles within the business since he joined in 1987. Following senior UK and European positions, he was appointed VP of modern trade Europe at CSM Bakery Solutions in 2014 (before Baker & Baker‘s spin out) before assuming the CEO position.
During his tenure, he has been pivotal in the establishment and development of the bakery products business since its early beginnings in the mid-nineties.
In recent years, the business has seen healthy growth, with 2023 seeing its revenue climb up by 12%. Gross profit grew too, reaching €83.9m – an increase of 18.2% on the year prior.
That year also saw the bakery business making several major investments, including €5m in productivity enhancements, a shift in product mix to address changing consumer preferences, and its £2.9m investment into the Wirral cookie line which became operational last year.
The company also acquired its Peniche facility in Portugal, with its Pastel de Nata product going live in 2023.
As Acheson steps into Lindsay’s shoes, Paul Jones assumes the role of CFO, having been promoted from UK finance director, a role he has held since 2021. Jones’ new title will also see him joining Baker & Baker’s senior leadership team, which comprises six individuals in total.
Commenting on the news, Acheson said: “I am extremely pleased to be entrusted with leading Baker & Baker, as we look to expand our presence and distribution in markets throughout Europe and further afield. 2024 has been another robust year for the Group, and we are excited about the opportunities to grow our business in collaboration with our key customers and partners.”
“On behalf of the Board, I would like to congratulate Matthew on his appointment as CEO and express our confidence, trust and support in him to lead the company in its new endeavours,” added Marianne Kirkegaard, executive chairman of the Board of Baker & Baker.
“Since the creation of the standalone bakery products business Baker & Baker in 2021, John and Matthew have worked tirelessly and effectively to drive growth, enter new markets and navigate a series of geopolitical and industry challenges. Supported by a strong leadership team, we are excited about the next chapter for Baker & Baker.
“I would also like to pay tribute to John for his many years of impeccable service - and in particular his fantastic leadership of the business since 2016, including the transition, establishment and success of Baker & Baker as a new business entity.”
