David Marshall has been made chairman of premium cake maker Finsbury Foods .
Marshall has been deputy chairman since Finsbury formed in 2002 and replaces Lord Saatchi, who announced his retirement last January. Marshall is also chairman of market research group Creston and of the London Finance & Investment Group.
The appointment coincides with chief executive Dave Brooks' purchase of 16,000 shares in the company at 62.5p each, bringing his total ownership to 0.47% or 241,460 shares.
The purchase was a sign of his belief in Finsbury and its future, he said.
" Our acquisitions and investments have helped the company mature and we are now a leading bakery business and a major player in the gluten-free market, which is set for significant growth," he said.
Finsbury's acquisition of Yorkshire Farm Bakery last month was the latest in a line of deals which helped boost like-for-like sales 91% to £82.7m in the six months to December 2007.
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