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Corporate Governance

 

Hilton Food Group plc has appointed as remuneration consultants FIT Remuneration Consultants LLP who have no other connection to Hilton Food Group plc.

The terms and conditions of appointment of non-executive directors are available for inspection by appointment at the registered office during normal business hours and at the AGM.

CEO transition to Executive Chairman

On 1 July 2018 Robert Watson transitioned from CEO to Executive Chairman of Hilton Food Group plc and it is planned that Robert will become Non-Executive Chairman during 2020. The Board considered this change to be in the best interests of the Company. Major shareholders were consulted ahead of the appointment who were supportive of the change. It is relatively unusual for the CEO to become Executive Chairman but the Board considered that the circumstances were exceptional and the reasons for this change were set out in an announcement on 23 May 2018 which included the following:

Given Robert’s experience, and the level of recently won new business coming on stream over the next few years, the Board is unanimous that it is in Hilton’s best interests for Robert to remain within Hilton Food Group in an Executive capacity

Robert will work to integrate the Australian business where in 2018 we took over operational control of two plants in Bunbury and Truganina as part of an agreement to restructure our joint venture agreement there which will complete in 2020 following a two year transition period. Additionally we are building new plants in Brisbane and New Zealand due to open in 2019 and 2020 respectively

Robert will also focus on new business development in new territories and new product categories

It is planned that, on completion of the joint venture transition process in 2020, Robert will become Non-Executive Chairman

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