Hilton Food Group CEO Steve Murrells has announced his decision to step down from his position, just two years after taking over from the previous chief executive, Philip Heffer. The UK-based private-label supplier revealed that Murrells and the board have mutually agreed that it is the right time to search for a new leader to lead the business into the future.
Murrells will continue to provide transitional support until the end of December before officially stepping down. In the interim, Chairman Mark Allen will assume the role of executive chair while the board considers the succession plan for the CEO position. Allen, who joined the company earlier this year, brings significant experience in the food industry, consumer goods, and public companies to the role.
Despite the leadership change, Hilton Food Group emphasized that the business is in a strong financial position with promising long-term prospects. The company recently downgraded its 2025 profit forecast due to a challenging outlook for the new financial year. However, they remain confident in their ability to navigate these difficulties.
Murrells expressed his pride in the progress made during his tenure, particularly in expanding the company’s international operations. He highlighted the expansion into Canada and Saudi Arabia as significant milestones achieved under his leadership. Shortly after becoming CEO, Murrells announced Hilton Food’s first manufacturing plant in Canada and secured a protein supply deal with Walmart.
Looking ahead, Hilton Food Group aims to continue its global expansion, with plans to enter markets in Australia and Southeast Asia. The company has also formed joint ventures in Saudi Arabia to supply meat, marking its entry into the Middle East market. However, recent challenges in the UK seafood business and Foppen salmon operations in the Netherlands have led to a revised profit forecast for the upcoming year.
In conclusion, Hilton Food Group is undergoing a leadership transition as Steve Murrells steps down from his role as CEO. The company remains optimistic about its future prospects despite facing challenges in the current trading environment. With Mark Allen at the helm in the interim, Hilton Food Group is poised to navigate these challenges and continue its growth trajectory.
