Emilio Teresa, managing director of International Produce Ltd (IPL), is to leave the company to pursue other business interests.
Teresa, who was instrumental in establishing IPL in July 2004 and will retain his 24 per cent shareholding in the Asda-dedicated company. On inception, IPL was a combination of the import activity of Geest’s English Village Salads and Teresa’s business Thames Fruit, which had become an exclusive importer of citrus fruits and melons for Asda in 1999.
Teresa built up Thames Fruit from scratch in the UK over a 17-year period and is now expected to take on a role with his family’s Spanish-based company Teresa Hermanos.
He will not be replaced as managing director of IPL, which will move its international produce officers in the UK and overseas into positions to cover Teresa’s responsibilities.
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