Dairy Crest's Finance Director steps down in company shake-up

Dairy Crest announced a 'reorganisation' of the company on Tuesday morning, which includes targeted cost savings and a number of senior management changes.

The dairy foods group said that after a series of of disposals over the past few years, it now has the opportunity to "simplify the business further".

As such, it will consolidate its organisation into a single structure "focused on consumer-driven growth with an integrated supply chain".

"The new organisation, focused on consumers and customers, will facilitate best practice, eliminate duplication and maintain Dairy Crest's strong focus on profit delivery. Annual cost savings of at least £5.0m are anticipated."

After the reorganisation, Diary Crest will continue to report its results for Cheese, Spreads and Dairies separately.

Board changesAlastair Murray, the group's Finance Director of nearly 10 years, has announced his intention to leave the firm to pursue other business interests. He will step down in May.

Murray will be succeeded by Tom Atherton, previously Dairy Crest's Director of Financial Control for the past four years.

"The reorganisation announced today continues the decisive changes made by the Dairy Crest management team over recent years to optimise the company's position in a competitive sector," said Chairman Anthony Fry.

"Alastair has been a Finance Director of the highest quality with an excellent reputation both within the business and outside. I have been fortunate as Chairman to have had someone who has contributed so much to the company, for which he has my personal thanks as well as that of all my board colleagues. He leaves Dairy Crest with our very best wishes for his future."

The company also announced that the Managing Director of its Diaries division, Toby Brinsmead, is to leave at the end of next month.

In a separate statement, the firm announced that it has managed to keep hold of its contract to supply milk to supermarket giant Sainsbury's for another three years.