Greggs PLC promotes retail director Roisin Currie to be new CEO

Greggs PLC (LSE:GRG) said Roisin Currie, the sausage roll maker’s retail and property director, will become its new chief executive in May as boss Roger Whiteside retires after almost a decade in the role.

The FTSE 100 baker also reported sales of £1.23bn for the 52 weeks ended 1 January, up from £811mln the year before, when most outlets were partly closed or affected by Coronavirus (COVID-19) restrictions, and up 5.3% from £1.17bn in 2019.

On a two-year basis, accounting for 131 new shops opened in the year and 28 closures, sales in the fourth quarter of 2021 were up 0.8%, while like-for-like (LFL) sales for the whole year were down 3.3%.

Whiteside said the group had “made great progress… despite tough trading conditions” and entered 2022 “with a strong financial position that will support our ambitions to accelerate the rate of growth in our shop estate whilst developing new digital channels and extending the trading day”. 

“Whilst conditions in the first few months of 2022 are likely to remain challenging, we are confident that we are well placed to make progress on the many attractive opportunities that lie ahead.”

Speaking about his handover to Currie, he said she is “a great leader and has played a key role in the development of the business over many years, most recently in shaping our ambitious plans for further growth.”

Joined the Newcastle-based group in 2010 from a previous role as Asda’s people director, Currie has been appointed as CEO designate and as an executive director with effect from 1 February.

As retail and property director, she currently has responsibility for Greggs’ UK retail operations, development of the shop estate to its current size of 2,181 outlets, as well as its nascent delivery business in partnership with Just Eat.

Until now she has not sat on the main board, though has been a member of the operating board.

Chairman Ian Durant said she has “played a central role in the success of Greggs as it has developed as a multi-channel food-on-the-go business” and has “deep experience of our culture and our strategic plan”, adding that she “will lead with energy and character”.

Currie said: “Having been a senior executive in the business for twelve years I understand our values-driven approach and the contribution that our 25,000 colleagues make each day. We have created a plan for strong growth and further strategic development of Greggs and I look forward to driving this in the coming years.”