Premier Foods Slumps as Chief Executive Resigns: London Mover
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Premier Foods Plc, owner of the Hovis bread and Bisto gravy brands, fell the most in almost a year after Chief Executive Officer Michael Clarke resigned, prompting analysts to question the company’s stability.
Clarke’s departure from the St Albans, England-based company is a “major blow” after the former Kraft Foods and Coca-Cola executive spent less than 18 months in the post, Charles Mills, an analyst at Credit Suisse Group AG, wrote in a note. The company hired Gavin Darby to start on Feb. 4 as his replacement.