Northern Foods has appointed Patricia O'Driscoll as the group's new chief executive. O'Driscoll, who is currently retail vice president at Shell Europe, succeeds Jo Stewart who resigned from the group in September after a profits warning.
O'Driscoll will be paid a basic salary of £470,000 a year and will receive a deferred award of shares worth £130,000. City analysts have welcomed her appointment and it is hoped that her experience may enable Northern Foods to get back on track, following half-year results that saw profits decline by 70 per cent.
The company's chairman Peter Blackburn has said that O'Driscoll's blend of broad retail experience and extensive operation management responsibility gave her an excellent understanding of the key drivers of the business.
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