Premier Foods PLC (LON:PFD) has reportedly approached the former boss of Weetabix Ltd to become its new chief executive.
According to Sky News, Giles Turrell is “one of several people who have been identified as a potential successor" to Gavin Darby, who stepped down as chief executive of Premier Foods in January.
READ: Premier Foods reviews business, appoints activist investors to board
Turrell spent six years with Weetabix, during which time he oversaw the sale of the cereal maker to America’s Post Holdings for £1.4bn in 2017.
Premier Foods, which makes Oxo cubes, Mr Kipling cakes and Bisto gravy, announced the departure of Darby in November after an activist investor Oasis Management accused him of destroying shareholder value during his tenure.
In February the company said it would review options to improve shareholder value following talks with its investors.
The group also said activists Daniel Wosner of Oasis, the second largest shareholder in Premier Foods, and Orkun Kilic of Paulson & Co Inc, the third largest, would become non-executive directors of the board.
Shares in Premier Foods have suffered since the firm turned down a 60p-per-share takeover offer from Canadian spice maker, McCormick, in 2017.
On Monday morning, shares were little changed at 34.61p each.