After more than 35 years in the food and drink industry, Peter Utting has officially retired from his position as CEO of Gu. Utting’s tenure, which began in February 2019, involved steering the company through transformative growth and solidifying its status as a leader in the chilled desserts market.
During his leadership, Utting secured significant investment from Exponent in 2021. This investment allowed for the purchase of Gu from Noble Foods and facilitated the establishment of a second production line. Under Utting’s direction, Gu achieved B Corp status while also expanding its international footprint, making its products available in 10 countries.
The latest Companies House statement covering the 52-week period ending 29 September 2023 reported a profit of £2,901k on a turnover of £66,587k.
Despite facing several challenges, including soaring inflation, HFSS regulations, and a cost-of-living crisis that affected premium dessert consumption in the UK and France, Gu experienced modest sales growth. Notably, new product launches contributed positively, though overall sales in France declined by 1% due to price hikes impacting purchase rates.
“Being part of Gü has been one of the highlights of my career. I’m so proud of what we’ve achieved together,” Utting stated.
“Whilst I’ll miss the team and the business, I’m excited to see all the great things Gü will continue to accomplish. I would also like to thank the Dean family as the owner of Noble Foods for giving me the opportunity to lead this business and, latterly, Exponent, who have been a tremendous support over the last three years,” he added.
Following Utting’s departure, Emma Vass will assume the role of CEO. Vass brings nearly 25 years of experience in the food and drink sector, having most recently led Ecotone’s UK division, overseeing brands such as Clipper Tea, Kallo, and Whole Earth.
“Gü is such a beautiful, innovative brand with potential to become one of the leading global indulgence brands – I am delighted to have the opportunity to join the team and be part of the continued success,” Vass remarked.
Simon Davidson, partner at Exponent, expressed gratitude for Utting’s successful leadership over the past six years, stating, “We’d like to thank Pete for his successful leadership of Gü and welcome Emma at this very exciting time. Gü delivered double-digit volume growth last year, and with the significant investment now made in new capacity, the brand is strongly positioned to continue this growth under Emma’s leadership.”
