UK-based bakery products manufacturer Baker & Baker has elevated CFO Matthew Acheson to the position of CEO.
Acheson, who has served as Baker & Baker’s CFO since 2021, takes over from John Lindsay, who has led the company for nearly four years.
John Lindsay, the former CEO of Baker & Baker and CSM Bakery Solutions since 2016, is transitioning to a strategic advisory role until May 1, when he will officially retire. Post-retirement, he will join the company as a non-executive director.
Since 2017, Acheson has played a key role as CFO of both Baker & Baker and the CSM Bakery Solutions business.
The newly appointed CEO outlined his vision for expanding the company’s presence and distribution across European markets and beyond.
“2024 has been another robust year for the group, and we are excited about the opportunities to grow our business in collaboration with our key customers and partners,” he stated.
The company noted that Acheson’s appointment as chief executive “reflects his dedication and success in driving the performance of the business over the previous seven years as CFO.”
Moreover, the group aims to achieve further growth by 2025 and beyond, with Acheson pledging to ensure a “seamless transition” drawing from his “deep financial experience and understanding of the business acquired during the last 15 years.”
Marianne Kirkegaard, executive chairman of the board, stated: “On behalf of the board, I would like to congratulate Matthew on his appointment as CEO and express our confidence, trust, and support in him to lead the company in its new endeavors.”
“Since the inception of the standalone bakery products business Baker & Baker in 2021, both John and Matthew have worked tirelessly and effectively to drive growth, enter new markets, and navigate a series of geopolitical and industry challenges.”
“I would also like to pay tribute to John (Lindsay) for his many years of impeccable service, particularly for his outstanding leadership since 2016, which included the transition, establishment, and success of Baker & Baker as a new business entity.”
John Lindsay has held multiple management roles within the company since joining in 1987. After serving in senior UK and European positions, he was appointed VP of Modern Trade Europe at CSM Bakery Solutions in 2014, prior to stepping into the CEO role.
The food manufacturer stated that he has been “pivotal in the establishment and development of the bakery products business since its early beginnings in the mid-nineties.”
Paul Jones, who served as UK Finance Director since 2021, has now succeeded Acheson as Baker & Baker’s group CFO.
Baker & Baker is a leading manufacturer of bakery products, operating in over 30 markets across Europe and the Middle East and North Africa.
The company boasts 12 manufacturing sites across six European countries, employing more than 2,500 individuals.
In 2023, Baker & Baker reported an annual turnover of €620.4 million ($636.1 million), reflecting a robust year-over-year growth of 12%, compared to €554 million in 2022. Despite sales volume stagnating, the company managed to sell 141.9 million metric tons of products in 2023, a slight increase of 0.2% from 141.7 million metric tons in 2022.
