Name: David Sugden
Was: CEO of Geest; non-executive director for Greencore
Now: Chairman of Findel
Years in grocery: 20
Career background: Sugden got his first taste of grocery in 1986 when he joined Geest - then the UK’s biggest banana importer - as group finance director. He was appointed chief executive in 1990 and oversaw its transformation from a narrowly focused banana business to a broad-based supplier of chilled convenience foods, culminating in the sale of its banana division for £147m in 1995. It’s a feat Sugden today picks out as is his biggest achievement during his time in grocery.
The Greencore years: A non-executive director from 2002 to 2012, with stints as chairman of the audit committee and senior independent director, Sugden helped steer the company through some of its toughest times, including its 2008 accounting fraud scandal, which resulted in the sacking of three senior managers.
What is he doing now? Sugden became chairman of home shopping company Findel in 2010, and describes it as “the most rewarding job I have ever done”. “I was part of a team that took on Findel at an extremely challenging time - it had a huge debt burden and operational issues - and we have achieved a successful refinancing and rebuilding of the business, which has saved 3,000 jobs and produced excellent returns for investors.”
What does he miss about grocery? The banana business and its “intoxicating mix of international trade, politics and shipping”, he says, adding that 20 years taught him the importance of efficient supply chains with strong controls over traceability. And next? “I still enjoy bringing my experience to interesting business situations where I can make a difference, and hope to have the energy to do a few more,” he says.
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