Princes Group chief executive Simon Harrison is set to leave the business at the end of June as the company begins the search for a permanent successor, just days after reporting strong first-quarter trading.
The Liverpool-headquartered food and drink group announced in a regulatory filing that Harrison will step down as chief executive and board director on 30 June to pursue another opportunity.
Giuseppe Mastrolia, currently chief commercial officer and executive board director, has been appointed interim chief executive from 1 July while the board carries out a formal succession process.
Mastrolia joined the business in July 2024 following the acquisition of Princes by NewPrinces and was later appointed chief commercial officer. The company said he has played a key role in developing and executing the group’s commercial strategy since relocating to the company’s Liverpool headquarters.
He also brings significant executive leadership experience, having served as chief executive of NewPrinces Group for the past nine years
The leadership announcement comes less than a week after Princes reported a positive start to 2026, with first-quarter revenues rising 6 per cent year on year to £506.6 million and adjusted EBITDA increasing 17 per cent to £38.2m.
The business said margin improvements were driven by operational discipline, synergy delivery and portfolio optimisation initiatives, while free cash flow remained strong at £34m during the quarter.
Princes, whose portfolio includes brands such as Napolina, Branston and Batchelors, also reported positive momentum entering the second quarter, with April trading ahead of the previous year, alongside a continued innovation pipeline across core brands and markets.
The group said integration work following recent acquisitions remains on track, including the incorporation of Plasmon, while further manufacturing efficiencies, SKU rationalisation and cost-saving initiatives are expected over the coming quarters.
Chairman Angelo Mastrolia thanked Harrison for leading the business through the integration process and its transition to a publicly listed company.
“On behalf of the Board, I would like to thank Simon for his contribution and leadership of the Company through the integration of Princes and especially during the transition to a publicly listed company on the London Stock Exchange,” he said.
Harrison joined Princes in June 2023 as deputy managing director, and was appointed CEO in April 2024. Prior to joining Princes, he spent three years as VP of commercial development at Coca-Cola European Partners.
He said: “Princes is well positioned for the future and I look forward to seeing its continued success. It has been a privilege to lead a great British business during a period of exciting change and I would like to thank the chairman, the board and all of the Princes employees for their support.”