21
Dame Fiona Kendrick
Chairman and CEO, Nestlé UK
Last ranked: NEW
A Nestlé lifer, Kendrick took the top UK job in 2012 and immediately oversaw some of the firm’s biggest-ever manufacturing projects, including a £500m spend on its UK facilities.
Under her leadership many of Nestlé’s most important categories are booming, with Buxton and San Pellegrino enjoying strong double-digit growth, and coffee sales (notably through Dolce Gusto and Nespresso) in similarly impressive form.
A formidable operator, the respect Kendrick has earned from industry peers saw her elected president of the FDF last November, and she was included in the Queen’s Birthday Honours in January.
22
Andrew Moore
CMO, Asda
Last ranked: NEW
Moore joined Asda in 2008 as director of George, and it’s consistently been a bright spot during an otherwise flat few years in terms of growth.
His promotion last month – part of a restructure announced by Andy Clarke last month – means that as well as George and general merchandise, Moore takes responsibility for food.
It’s a big job, and the likeable Moore will have his work cut out to achieve parity with the discounters on price, but with COO Mark Ibbotson moving to the US, Moore has emerged as the biggest winner. If he can have the same effect in food as he has in fashion, who knows where it might lead?
23
Tim Steiner
CEO, Ocado
Last ranked: 22
Steiner has adjusted well to the departure of his Ocado co-founder Jason Gissing in February last year, leading the online supermarket to solid growth. In the seven days to Christmas, its customer fulfilment centres processed almost 40% more items for Ocado.com andMorrisons.com than over the same period last year. And in this week’s full year results, Steiner announced a £7.2m profit – Ocado’s first annual profit since it started operating 15 years ago.
Despite a sceptical analyst community, Ocado’s share price is still sky high, thanks to the former Goldman Sachs banker’s skilful negotiations, continued innovation and ambitious plans for the future of online retailing, in which data on each individual consumer’s dietary needs, health quirks and household budgets will be used to personalise the experience.
One potential weak spot is a break clause in its Waitrose contract in 2017. And some analysts have suggested the Morrisons CEO may also opt out of what was a very lucrative deal for Ocado. Yet, whatever the outcome, Ocado has enhanced its reputation as a world class online retail operation and expansion in the UK and globally may not be too far away, either.
24
Richard Evans
President, W Europe/S.Africa, PepsiCo
Last ranked: 39
Evans built Trivial Pursuit into a 80s icon as the game’s business unit director for Europe some 30 years ago.
There’s nothing trivial about what he’s been doing at PepsiCo, either – as recognised by his promotion a year ago to run the whole of Europe from its Geneva HQ.
Closer to his Berkshire home, Evans has consistently achieved growth in the recession, not only through its on-trend Quaker Oats brand but via Pepsi Max and Walkers – its most potent brands but ones that operate in a potentially incendiary environment. Ironically only Tropicana has really suffered in the war on sugar.
25
Steve Rowe
Executive director of food, M&S
Last ranked: NEW
Rowe’s drive, infectious enthusiasm and attention to detail have not gone unnoticed: he won The Grocer Cup last year. And no wonder. An ambitious Simply Food store expansion programme was recently accelerated. And a makeover of the department stores, with artisanal bakeries, high-end delis, fresh produce showcased in farmers’ market-style wooden crates, and distinctive and unique brands, has helped deliver 20 consecutive quarters of like-for-like growth. Indeed food was once again the saving grace in an otherwise lacklustre Christmas for M&S, with sales up 2.8% in Q3, and rocketing by a very healthy 17% over the Christmas week.
26
Jim McCarthy
CEO, Poundland
Last ranked: 44
An experienced and worldly-wise retailer, McCarthy has taken Poundland to heights no one expected, and the latest example was its £750m flotation last March. Its valuation shot up to £925m following frenzied early trading.
That’s because Europe’s biggest fixed price retailer continues to grow, reporting a 12% increase in half-year profits to £9.3m last November, solidifying its position as one of the best-performing stocks in fmcg.
If Poundland sold more groceries, we would rank McCarthy higher still. But the former Sainsbury’s exec is certainly showing the grocers a trick or two. No wonder Morrisons is courting him.
27
Patrick Coveney
CEO, Greencore
Last ranked: 49
After successfully integrating Uniq’s desserts business, Greencore was unfortunately (and falsely) sucked into Horsegate in 2013, but by refocusing operations away from tainted ready meals and into booming food to go, sales, profits and its share price have all soared. It’s won heaps of new business and invested £30m on new plant and machinery in the UK. But it’s cracking the US that sees Coveney rising up the ranks. A successful template has been established on the East Coast to service Starbucks and 7-Eleven with food to go. He’s now rolling it out on the West Coast, helped by a £27m investment, and with more to come.
28
Barry Williams
CCO, Asda
Last ranked: 40
The new year brought a promotion for Williams, replacing Steve Smith as Asda’s chief customer officer, with responsibility for Asda’s marketing, customer insight, store proposition and health strategies.
CEO Andy Clarke said Williams’ “absolute focus on doing the right things for our customers meant he was the natural choice” for the role.
Industry insiders also suggest that Williams, who has developed an excellent reputation among suppliers (and colleagues) as its commercial director (or CMO) for food, is being groomed for bigger and better things in a role that will stretch and broaden his perspective.
29
John Rogers
CFO, Sainsbury’s
Last ranked: NEW
Sainsbury’s has had a tough time of it lately, but Rogers is considered an excellent CFO and has been tipped to take the top job (or another CEO role elsewhere).
In the meantime, he’s been helping CEO Mike Coupe (qv) with its balance sheet restructure, and is the only other director on the executive board. Promoted to CFO in 2010, Rogers has been an outspoken critic of business rates and, since Justin King left, his prowess with the media has also come to the fore.
His stewardship as he engineered the buyout of RBS from its Sainsbury’s Bank jv was widely praised, and he’s also assumed responsibility for property.
30
Malcolm Walker
CEO, Iceland
Last ranked: 15
After years of growth, Iceland’s sales are thawing. Or to put it in the words of chairman and CEO Walker, in a speech last week: “The last two, three years have been so tough and our profits this year are about half, so we are in deep s***.”
It’s not hard to see why: the rise of the discounters and the resultant supermarket price war means even hefty price cuts have not gained traction or resulted in a boost to footfall.
The result: sales down 0.4% to £598m in the 12 weeks to 4 January, according to Kantar Worldpanel. Even offering shoppers lobsters for a fiver – taking a leaf out of Aldi and Lidl’s book – failed to boost “bloody awful” Christmas trading.
One bright spot appears to be the launch of Iceland’s new fascia, the Food Warehouse.
“We now have six and they are going like a train,” says Walker. “The trouble is we have 850 of the other ones to sort out but I am sure we will. We have done it twice, three times before so of course we are going to do it. What happens when you get to this point is the excitement comes back into the business and it really is exciting, there is a big challenge in front of us.”
And who would put it past Walker to do it all again?
31
Irwin Lee
UK & Ireland MD, P&G
Last ranked: 46
While many of its core household sectors are still in the doldrums and subject to fierce competition from the discounters, Lee has done a great job navigating P&G through a double-dip recession and coming out the other side, as he puts it, in charge of a “vibrant, energetic, high morale organisation” that’s moved successfully into haircare and toothpaste at the same time.
He’s also proved he can work with the discounters, identifying them early as an opportunity as well as a threat if managed correctly. His next task: to disconnect Duracell, Iams and other P&G disposals, without affecting the core.
32
Jonathan Warburton
Chairman, Warburtons
Last ranked: 30
A fifth-generation Warburton, Jonathan is steering the business through tough times – its bread sales were down £50m last year as shoppers turned their backs on traditional sliced loaves.
But Warburton has been consistently ahead of the curve when it comes to evolving trends like gluten free, and has enjoyed such strong growth in ‘sandwich alternatives’ like wraps and thins it plans to invest £20m in a new plant in Burnley, Lancashire, to provide extra capacity.
Now he’s teaming up with Sylvester Stallone for a new ad campaign. And if anyone can save bread against the odds, it’s Sly – with Jonathan right beside him, of course.
33
Stuart Quickenden
UK MD, Boston Consulting Group
Last ranked: NEW
Coming out of nowhere is a relatively unknown quantity that nevertheless has powerful and serious implications for literally thousands of suppliers who deal with Tesco – not to mention Tesco’s commercial teams. Led by president and CEO Lesser, management consultancy BCG has been appointed by Tesco to carry out a root and branch assessment of its ranging across 40 categories. Using Dunnhumby data, and with a licence to simplify the range – and potentially cut out its buyers from the listing process – the end result is expected to see up to 30% of Tesco’s range delisted ready for a late August back-to-school refit of Tesco’s shop.
34
Zameer Choudrey
CEO, Bestway
Last ranked: 68
The CEO of Britain’s second-largest cash & carry firm has shot up the Power List.
It’s not so much the fact that Bestway remains in growth, though it most certainly is, thanks to selective acquisitions and symbol group sign-ups.
Choudrey’s elevation is down to his £620m acquisition of The Co-operative Group’s highly profitable pharmacy business.
Choudrey has bided his time looking for a complementary acquisition to its wholesale grocery business, and in pharmacies it may well have tapped a lucrative growth opportunity.
If it delivers as he expects, he will rise further.
35
David Forde
MD, Heineken
Last ranked: 51
Forde has been with the brewer for 26 years, but he’s anything but stuck in his ways. As well as skilled category management (in the on as much as the off-trade), his relentless drive to innovate has seen Heineken thrive in a challenging market, notably through beer products like Foster’s Gold, Foster’s Radler and Desperados.
Under Forde Heineken has also got to grips with cider as a category, diversifying and experimenting with flavour combinations such as Dark Fruit, helping the Strongbow brand grow 10.3% in value over 2014.
However, he’s culled a couple of products too, notably White Lightning, in a drive by Heineken to demonstrate its support for the government’s responsibility deal, with Forde telling The Grocer it had become a “problem brand” and that Heineken was a “very responsible” brewer, highlighting its ad campaign that urged drinkers to ‘Dance More, Drink Slow.’
Forde is also investing heavily in the UK, building a new £58m plant in Hereford to bring all of Heineken’s cider production under one roof, with more investment planned around the UK later this year to keep Heineken moving forward.
36
Ranjit Singh
CEO, 2 Sisters Food Group
Last ranked: 5
A bumpy 2014 saw the Birmingham-based food giant report losses of £143m as “transformational” restructuring costs took a heavy toll on the balance sheet. 2 Sisters also became embroiled in a campylobacter media storm after two poultry processing plants were exposed by The Guardian newspaper for alleged hygiene breaches. However, subsequent investigations into both plants, ordered by health secretary Jeremy Hunt, found no improvements were required. Nonetheless, Singh will be hoping new management talent, including former Adams Foods CEO Ian Toal, will ensure a less volatile 2015 for the Chicken King.
37
Matt Hill
Zone president, Heinz Europe
Last ranked: 33
Since the acquisition of Heinz by Berkshire Hathaway and 3G Capital in 2013, Hill’s skilled turnaround of its UK operations have not gone unrecognised: he’s now running the whole of Europe, and carrying out a fairly brutal restructure of its operations.
He needs to. Beans sales are now flat, but soup is in decline, WeightWatchers is a big worry, while the sale of table sauces (ketchup notwithstanding) isn’t exactly booming.
Where Hill is involved, however, there will always be a commitment to innovate in terms of NPD and marketing, whether that’s moving into gluten free or offering personalised soups.
38
Paul Mills-Hicks
Food director, Sainsbury’s
Last ranked: NEW
Mills-Hicks was promoted to this new role in May last year as part of a wider management reshuffle ahead of Coupe’s appointment as CEO. Effectively in Coupe’s role, Sainsbury’s supply chain, own-label, space & formats and food category teams all report to him. He’s spent more than 10 years at Sainsbury’s in roles including executive assistant to Justin King and director of trading finance. This could be his most challenging role yet in a period of intense change for the sector. He’s already waded into the milk price war debate, explaining what it pays its milk farmers in ads that bravely included a list of what its rivals pay too.
39
Simon Litherland
CEO, Britvic
Last ranked: 45
The past couple of years have been quite a ride for Britvic CEO Simon Litherland. In September 2012, the then GB head – only recently recruited from Diageo – found himself surplus to requirements after Britvic accepted a takeover bid from AG Barr.
A disastrous £25m Robinsons Fruit Shoot recall had placed Britvic on the back foot, and the share price was in the doldrums. But seizing the moment afforded by the deal’s referral to the competition authorities – and CEO Paul Moody’s departure – Litherland countered Barr’s proposals with an alternative strategy that mapped out Britvic’s future as a firmly independent player, but with its fortunes vastly improved through – among other measures – the closure of its Chelmsford HQ and spring water factory in Huddersfield.
Litherland’s proposals were warmly welcomed by shareholders, and having seized power, the soft drinks firm has been quietly re-establishing itself as one of the sector’s top performing stocks in 2014.
Sales slowed in the summer and Robinsons volumes are under pressure, but the Zimbabwe-born CEO has impressed the City by improving profit margins and delivering product innovation.
40
Arora Brothers
Co-founders, B&M
Last ranked: 58
It was another big year for the three Arora brothers – Simon, Bobby and Robin – who made over £1bn from the flotation of B&M Bargains, the variety discount chain they started in 1978, in the summer.
The brothers registered their office in Luxembourg and used the listing to support ambitious expansion plans across Europe, following the acquisition of German discounter JA Woll.
They kept going in the UK, too, opening their 400th B&M store this year, selling its typical blend of toys, furniture and – in recent times – grocery. It makes B&M a powerful player in the discount world, and chairman Sir Terry Leahy is quite useful too.
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