MHP chairman resigns, cites family reasons

By Oscar Rousseau

- Last updated on GMT

Despite the resignation, MHP's share price increased on the London Stock Exchange on 19 July
Despite the resignation, MHP's share price increased on the London Stock Exchange on 19 July

Related tags Stock market Board of directors Mhp Pork Poultry

Charles Adriaenssen, chairman of Ukrainian agro-industrial company MHP, has stepped down after a decade at the helm of the feed and meat business. 

MHP, which primarily focuses on poultry production and grain cultivation, announced on 19 July that Adriaenssen had resigned his chairmanship of the company and had left the business due to “family reasons​”.

The board is thankful for Mr Adriaenssen’s leadership, passion and contribution over the past 10 years as the company has continued to grow in the midst of challenging times,​” said Yuriy Kosyuk, CEO of MHP, in a company statement on the departure.

We understand and support his decision to step down for family reasons and wish him well in his future endeavours.​”

Temporary successor anointed

MHP, meat processor, business
Dr John Rich will succeed Charles Adrianssen on a temporary basis

Dr John Rich has been named interim chairman of the board of directors of MHP. Rich holds a decade of experience on the company’s board, where he has served as a non-executive director.

Rich also provides consultancy services to agribusiness specialist IFC, as well as other financial institutions.

News of the appointment and resignations came on the same day that MHP reported a 36% increase in poultry exports in a pre-close trading statement, posted on 19 July.

The Ukrainian business is listed on the London Stock Exchange and its share price increased marginally on Tuesday after the company posted strong Q2 and half-year trading figures​.

MHP is a vertically integrated company and owns and runs all stages of poultry production, from feed grain cultivation and fodder production to egg hatching and rearing to processing, marketing, distribution and sales. The business claims to retain the largest market share for poultry in Ukraine.

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