THE CREATION of Essenta has forced Northern Foods chief executive Stefan Barden out of the firm, after the chairmen of the two firms omitted him from the rejigged executive team.
The chairmen of Northern and Greencore, old friends Anthony Hobson and Ned Sullivan, thrashed out the make-up of the combined board in private meetings over the last three months.
Hobson will become chairman of the enlarged group, with Sullivan as his deputy.
Greencore’s chief executive Patrick Coveney was chosen to head the new company, leaving Northern’s chief executive out of the final line-up.
A spokesperson for Northern Foods said the company would make an announcement about Barden’s future in due course.
A source close to Barden said: “Stefan has given his full support to the merger. He is still working with the business during the interim period, helping to integrate the businesses, but after this he will move elsewhere.
“He was fully in the loop during the negotiations but the two chairmen sat down and discussed the final line-up for the new board between themselves.”
Northern’s Simon Herrick was appointed group finance director, after his Greencore counterpart Geoff Doherty decided to step down.
“Putting the new board together was interesting,” Herrick told City A.M.. “My role was relatively easy, but the other roles were a bit trickier. But the chairmen of the two companies sorted the rest of the board.”