THE boss of Northern Foods resigned yesterday in the wake of a profits warning.
Chief executive Jo Stewart, who has worked for the company for 15 years, was leaving amid concern the firm was "not operating to its full potential".
Group pre-tax profits for the first half, excluding one-off costs, are expected to be significantly lower than the comparable period last year, the company said.
This has been blamed on performance in convenience foods reflecting "very challenging" trading conditions, the impact of the hot summer and margin pressures caused by raw material cost inflation.
Northern Foods, which makes Fox's biscuits, is the parent company of Dalepak Foods, of Leeming Bar, North Yorkshire.
Chairman Peter Blackburn is stepping in as executive chairman pending the appointment of a new chief executive.
The group's five largest customers are Marks and Spencer, Tesco, Sainsbury's, Asda and Safeway.
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereComments are closed on this article