Press Release Release date 01-09-2016.
New CEO for Tulip Ltd.
Steve Francis has been appointed as the new CEO of Tulip Ltd. He brings with him extensive experience from the meat industry and of restructuring and turning around manufacturing companies.
Fierce competition in the retail market, increasing raw material prices, the loss of significant contracts and internal issues with productivity and pricing are amongst the challenges currently facing Danish Crown’s UK subsidiary Tulip Ltd. The company will end the year with a loss.
As a consequence of the challenges facing the business Chris Thomas has stepped down from his role as CEO and Steve Francis has been appointed as the new CEO with immediate effect from 5th September.
Danish Crown Group CEO, JaisValeur, commented: “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.”
Steve Francis comes to Tulip Ltd with extensive international experience of turning around companies which are facing difficulties. He has experience from several sectors, including the food and the meat industries, and he is described 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. 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. 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 Ltd’s new CEO,” says JaisValeur.
Steve Francis says: “I am excited to be joining the leadership team at Tulip. Tulip is a great British business supported by a powerful parent & 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 #1 player in Pork.”
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, Steve Francis was CEO of the UK company Danwood, where he successfully turned a loss of more than DKK 80 million into a profit of more than DKK 50 million within the space of 12 months.
CV:
2012-2015: Danwood Group, CEO
2008-2012: Vion Food Group, COO/ CFO then Managing Director, Pork Business Unit
2005-2007: British Vita, COO/ CFO
2003-2005: MNS Partners, Founder and Partner
2001-2003: Barclays Capital, Managing Director & Head of Corporate Finance
1999-2001: PwC, Lead Partner European M&A
1997-1999: A.T. Kearney, Vice President. Head, Northern European Strategy
1992-1997: McKinsey & Company, Senior Engagement Manager
1988-1992: Brent Chemicals, Divisional Director & Head of Corporate Development
1985-1988: County Natwest, Assistant Director
1983-1985: First Chicago, Graduate Traniee
1983: MA, Physics, University of Oxford
ENDS