ABP’s CEO Paul Finnerty retires
He will be succeeded by Frank Stephenson, group chief operating officer, who will assume leadership of the company on 1 October 2016.
“On behalf of the Board I wish to express my sincere gratitude to Paul for his considerable contribution to the development of ABP in the past 11 years,” said ABP’s group executive chairman Larry Goodman.
“Our business has achieved significant growth during his tenure and is well positioned to meet future opportunities and challenges. I am also delighted that Frank Stephenson is taking up the role of CEO. Frank’s extensive experience in international agri business, most recently in the USA, will bring skills and perspectives to the Group that will be important for ABP moving forward”.
‘The right time’
Frank joined ABP in January 2015 as group chief operating officer, having previously worked with ingredients business Glanbia for 20 years in the UK, the US and Ireland. His last position with Glanbia was COO of its Performance Nutrition division, a $1bn revenue business based in Chicago.
“Having been with ABP for 11 years I feel that now is the right time to pass the role of CEO on to someone new,” said CEO Paul Finnerty.
“I am delighted that Frank Stephenson has been appointed as my successor. Frank brings great international business experience to ABP and his skillset ideally fits the hard working culture and drive of ABP as it positions itself for the next phase of growth and development.
“I am very proud of what has been achieved by the Group and extend my sincere gratitude to the Chairman, Larry Goodman, and to the great management team that I have worked with across our five divisions. ABP is in great shape to continue its growth and I wish the business every success going forward”.
ABP claims the be the largest beef processor in Ireland and the UK. It employs over 9,000 people and has 41 manufacturing plants in Ireland, UK, Denmark, Poland, Austria, Holland and Spain. Group turnover in 2015 was reported to be €2.7bn (£2bn).
Last year, ABP UK announced the completion of a £30m investment into its facility in Ellesmere, Shropshire. ABP Ellesmere is now one of Europe’s most advanced, efficient and sustainable beef processing operations. It is the first beef processing facility in Europe to be a certified Carbon Neutral building by The Carbon Neutral Company.