Premier Foods boss survives shareholder revolt
The boss of Premier Foods will remain in the role despite a bid to oust him at the AGM this week.
Activist shareholder Oasis Management, the firm’s second-largest shareholder, had called for Gavin Darby to resign, claiming he had destroyed shareholder value by rejecting a takeover bid.
Darby has been under fire since Premier Foods rejected a takeover bid from US company McCormick two years ago.
41% of shareholders voted against his re-election, and more than a quarter of investors also rejected the remuneration report.
Premier Foods owns brands including Mr Kipling, Ambrosia, Oxo and Batchelors and Lloyd Grossman.