Management changes at Primark

RNS Number : 9147Y

Associated British Foods PLC

11 September 2009

 



Associated British Foods plc

Management changes at Primark/Penneys

For immediate release

11 September 2009

Associated British Foods plc ('ABF') the international food, ingredients and retail group, has today announced that Paul Marchant is to become Chief Executive of Primark/Penneys with effect from 13 September 2009.  Arthur Ryan, currently Chairman and Chief Executive, will retain his role as Chairman. 

Paul Marchant joined Primark in January this year as Chief Operating Officer bringing with him a wealth of experience in retailing.  Since then, Mr Ryan and Mr Marchant have been working together to develop the business and continue its growth in the UK, Ireland and Continental Europe. 

Arthur Ryan said:

'I am extremely proud of all that Primark has achieved.  As Chairman, I am looking forward to working with Paul to ensure the ongoing success and future development of the business.'

Paul Marchant said:

'This role is one of the most exciting in international retail and I am looking forward to working with Arthur Ryan and the rest of the Primark board to build on the success of the business to date.'

George Weston, Chief Executive of Associated British Foods, said:

'Since Paul joined Primark earlier this year, he and Arthur have been working together to drive its growth.  Paul will now take on day-to-day control.

Arthur is the creator, driving force and inspiration behind the business and will continue to bring his enormous expertise and experience to its development in his role as Chairman.'

For further enquiries please contact:
Associated British Foods
John Bason, Finance Director	Tel: [phone]
Citigate Dewe Rogerson
Jonathan Clare, Chris Barrie, Hannah Dean	Tel: [phone]

Notes to editors

1.   Associated British Foods (www.abf.co.uk) is a diversified international food, ingredients and retail group with global sales of £8.2 billion and 96,000 employees.  It is listed on the London Stock Exchange with a market capitalisation of £6.7 billion.  It operates in 44 countries with significant businesses outside Europe in southern 

Africa, the US, China and Australia.  Its aim is to achieve strong, sustainable positions in markets that offer potential for profitable growth.

2.   Arthur Ryan joined ABF in Dublin in 1969 to create a clothing retail business. As Chief Executive he has driven the growth of Penneys in Ireland and later Primark in the UK and most recently in Continental Europe. Primark/Penneys now has 191 stores and trades from 5.9 million sq ft of retail selling space.

3.   Paul Marchant was appointed Chief Operating Officer of Primark/Penneys in January of this year, having been Chief Operating Officer at New Look where he spent four years. Prior to that, he held a number of senior buying and merchandising posts over a period of nine years with Debenhams, where he was latterly Trading Director for womenswear, menswear and childrenswear. Paul, who has also worked in a number of well-known British fashion retailers including Topman and River Island, is a highly experienced fashion retail executive with a strong product focus.

 

END

 

 

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