Paul Wilkinson is stepping down as chairman and chief executive of Ranks Hovis McDougall.
His resignation follows the decision by owner Doughty Hanson & Co to postpone seeking a listing for the food manufacturer on the London Stock Exchange.
Doughty Hanson said in June last year that it intended to realise some or all of its investment in RHM through an offering and listing of shares on the LSE.
But this week the company said it had deferred any consideration of a listing in view of the volatility of the markets and the unlikely prospect of a significant improvement.
Wilkinson has agreed to remain on the board for the transitional period. His successor as chief executive will be Ian McMahon, chief operating officer of the customer solutions division.
McMahon joined RHM on September 1 last year from ICI Paints .

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