Greggs CEO McMeikan to step down

Ken McMeikan, the Chief Executive Officer of bakery and hot snacks retailer Greggs is to leave the company for catering firm Brakes Group.

McMeikan has been at the head of the company since the summer of 2008, having previously worked at supermarket giant Sainsbury as its Retail Director and Tesco as the CEO of its Japanese division.

He said:"It has been a great honour to lead Greggs since 2008. It is a wonderful company with fantastic people and I am enormously proud of all that we have achieved together.

Start your trial of MoneyWeek today

Get unparalleled financial insight, analysis and expert opinion you can profit from.

Start your trial

Sign up for MoneyWeek’s free twice-daily newsletter.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Sign up

"There are many exciting growth opportunities ahead for the business and the team are well placed to deliver them."

McMeikan will stay on as Greggs' frontman until a new CEO can be found, the company said. At which point, he will move over to head Brakes Group, the supplier to the food service sector in the UK, Ireland, France and Sweden.

Derek Netherton, Chairman of Greggs, said: "We are very grateful to Ken for the valuable contribution he has made to Greggs.

"He has led the company through the major changes that have put us in a strong position for the future with a clear strategy for growth in a difficult environment. We wish Ken well in his new role."