Weetabix boss Ken Wood has announced his retirement and admits his successor will be entering "a competitive marketplace".
Wood has been CEO at the cereal giant since 2004, when he arrived with an ambition to "bring the company up to date". He will remain in the role until a replacement is found.
Under Wood's leadership, Weetabix diversified its portfolio with the launch of a series of new products, including Oatibix, cereal bars and Chocolate Weetabix, which hit shelves last summer with a recipe healthy enough to be advertised to children. Last November he pledged to source 100% of wheat used for Weetabix from within 50 miles of its Northampton HQ.
Wood, who turns 60 this year, is also credited with boosting exports of Weetabix and leaves the business as the market-leading breakfast cereal.
Last year, sales edged up 1.8% to £104.4m [Nielsen, 52w/e 2 October 2010]. Although this is ahead of overall category sales, which were static last year, Wood acknowledged that his successor would be entering a tough market.
"I am tremendously proud of what the team at Weetabix has achieved during my time as chief executive," he said. "I am sure that my successor will enjoy the challenges of growing our brands further within a competitive marketplace. I always intended to retire this year and am looking forward to having the time to pursue my other interests such as skiing, music, travel and any additional opportunities that may come my way."
Prior to Weetabix, Wood spent 18 years at Müller and oversaw the launch of the dairy giant into the UK, where it had virtually no retail presence. As managing director of Müller, Wood oversaw the building of a £60m factory in Shropshire. By the time he left in 2004, Müller was the fourth-largest food brand in the UK.
Wood's first job was as a sales promotion assistant in the Birmingham office of Heinz. He then progressed through the company to the role of market research executive at the head office in Hayes.
Wood has been CEO at the cereal giant since 2004, when he arrived with an ambition to "bring the company up to date". He will remain in the role until a replacement is found.
Under Wood's leadership, Weetabix diversified its portfolio with the launch of a series of new products, including Oatibix, cereal bars and Chocolate Weetabix, which hit shelves last summer with a recipe healthy enough to be advertised to children. Last November he pledged to source 100% of wheat used for Weetabix from within 50 miles of its Northampton HQ.
Wood, who turns 60 this year, is also credited with boosting exports of Weetabix and leaves the business as the market-leading breakfast cereal.
Last year, sales edged up 1.8% to £104.4m [Nielsen, 52w/e 2 October 2010]. Although this is ahead of overall category sales, which were static last year, Wood acknowledged that his successor would be entering a tough market.
"I am tremendously proud of what the team at Weetabix has achieved during my time as chief executive," he said. "I am sure that my successor will enjoy the challenges of growing our brands further within a competitive marketplace. I always intended to retire this year and am looking forward to having the time to pursue my other interests such as skiing, music, travel and any additional opportunities that may come my way."
Prior to Weetabix, Wood spent 18 years at Müller and oversaw the launch of the dairy giant into the UK, where it had virtually no retail presence. As managing director of Müller, Wood oversaw the building of a £60m factory in Shropshire. By the time he left in 2004, Müller was the fourth-largest food brand in the UK.
Wood's first job was as a sales promotion assistant in the Birmingham office of Heinz. He then progressed through the company to the role of market research executive at the head office in Hayes.
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