Fierce competition in the retail market, increasing raw material prices, the loss of significant contracts and internal issues with productivity and pricing are among the challenges currently facing Danish Crown’s UK subsidiary Tulip Ltd.

The company will end the year with a loss. As a consequence of the challenges facing the business Chris Thomas has stepped down from his role as CEO and Steve Francis has been appointed as the new CEO with immediate effect from 5 September.

"We would like to thank Chris Thomas for his efforts over the past three years, and I wish him all the best in the future," says Danish Crown Group CEO Jais Valeur.

Steve Francis comes to Tulip Ltd. with extensive international experience of turning around companies which are facing difficulties. He has experience from several sectors, including the food and the meat industries, and he is described as an expert in solving complex problems in companies where “that’s what we usually do” no longer suffices.

"I am excited to be joining the leadership team at Tulip. Tulip is a great British business supported by a powerful parent & business partner in Danish Crown. I am convinced that working with Passion for Food, Passion for Farming and with pace, discipline and precision as a team we can overtake our rivals and return to our rightful position as the #1 player in Pork," says Mr Francis.