Hovis chief executive Jon Jenkins is stepping down after three years at the helm, with his departure coming just weeks after it was announced that the brand is set to be bought by Kingsmill owner Associated British Foods (ABF).
Jenkins, who leaves his role in mid-September, was praised by private equity owner Endless for steering Hovis through a turbulent period of soaring raw material costs and for strengthening its range of products.
“I would like to thank Jon for his support and leadership over the last three years. Jon has helped navigate Hovis through an unprecedented period of raw material inflation and further developed the much-loved Hovis range of products and brand. Jon leaves with our thanks and best wishes,” Endless managing partner Aidan Robson said.
Oversight of the bakery business will now rest with current non-executive director Di Walker, who will assume chair of the Hovis board while the executive team maintains the company’s existing strategic direction.
Jenkins said: “I have thoroughly enjoyed my time at Hovis and would like to thank all our incredible colleagues across our bakeries, milling operation and distribution centres for their commitment and support over the last three years. I am really proud of what we have achieved and I look forward to seeing the business continue to prosper in the future.”
The leadership change comes as ABF, which owns Kingsmill, Allinson’s, Twinings and Primark, has agreed to acquire Hovis from Endless in a deal worth an estimated £75 million, according to reports. The move would merge two loss-making bakery operations into what ABF claims could become the UK’s biggest bread brand.
However, the merger still requires approval from the Competition and Markets Authority, while trade union Unite has warned it will “not tolerate attacks on jobs, pay or conditions” as part of any restructuring.
Founded in 1886, Hovis manufactures bread and bakery products for the UK’s major grocery retailers and local convenience stores. Endless acquired Hovis from Gores Group and Premier Foods plc in November 2020.
ABF owns Allied Bakeries, a UK bakery business founded in 1935, which produces bread and bakery products, including under the Kingsmill brand.