A new CEO has been appointed to lead Greggs after Roger Whiteside announced his retirement plans.
Greggs said Roisin Currie, currently retail and property director, has been named as chief executive and will take up the role from the date of the company’s Annual General Meeting in May 2022.
Mr Whiteside has given notice of his intention to retire from the company and it has been agreed he will step down from the board at the close of the AGM, but will remain available to support the transition process until his notice expires on January 5, 2023.
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Ms Currie will be appointed as CEO designate and as an executive director with effect from February 1.
Mr Whiteside, 63, said: “Greggs is a fantastic organisation with a very strong team. Roisin is a great leader and has played a key role in the development of the business over many years, most recently in shaping our ambitious plans for further growth. I look forward to supporting her in the transition to her new role.”
He revealed his plans for the future will involve spending time with his family.
He said: "The time had to come eventually. I've always said I wanted to retire before 65, so I'll be 64 and a half by the time I leave, so I've just about made it.
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"I'm going to go through a full retirement and spend the rest of my days with friends and family and doing things that I really love doing. You won't see me going plural (becoming a non-executive) or doing any chairmanships.
"I've kept my options open thinking about it, but at the end of the day, I've got so many other things I want to do.
"I spent most of my life doing business things and I'd like to spend the final chapter - adventure before dementia, that's what I say."
Mr Whiteside added how he wants to spend more time with his young grandson, along with time on other activities.
He said: "I want to spend more time on the golf course, on learning a musical instrument, mucking about with motor racing cars and skiing. That sort of stuff, so nothing earth-shattering.
"A year ago I picked up a guitar and said 'I'm going to learn this thing'. It was the most difficult challenge I've ever done. There will be no public performances, I can guarantee that."
His successor Ms Currie first joined Greggs 12 years ago, after working at Asda where she held people director roles, responsible for the organisation’s retail and distribution operations.
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She is a trustee of the Greggs Foundation and is chair of the Employers Forum For Reducing Re-offending.
Ms Currie said: “I am delighted to be appointed as chief executive at a time when Greggs has so much potential ahead of it. Having been a senior executive in the business for twelve years I understand our values-driven approach and the contribution that our 25,000 colleagues make each day. We have created a plan for strong growth and further strategic development of Greggs and I look forward to driving this in the coming years.”
Ian Durant, Greggs Chairman, said: “Roisin has played a central role in the success of Greggs as it has developed as a multi-channel food-on-the-go business and I am delighted that she will lead the next phase of our growth as Chief Executive.
"She has deep experience of our culture and our strategic plan, and will lead with energy and character. Roger Whiteside has been an outstanding Chief Executive and I wish him well for the future. Roisin and I look forward to working with Roger to ensure a smooth transition.”
The boardroom changes come as the firm publishes a fourth quarter trading update, in which it revealed thousands of Greggs employees are set to be rewarded for aiding the firm’s success in tough trading conditions.
Sales for the financial year to 1 January 2022 were £1.23bn, a two-year increase of 5.3 % compared with the equivalent period in 2019.
However, across 2021 two-year like-for-like sales in company-managed shops were 3.3% than seen in 2019.
In the fourth quarter of 2021 two-year like-for-like sales in company-managed shops grew by 0.8 per cent, with a strong performance in October being followed by more challenging conditions as consumers responded to precautionary messages relating to the new coronavirus variant. Mr Whiteside said that the raging Omicron infection rate has led to some stores having to close due to staff shortages and supply chain problems.
The firm said seasonal lines were popular with consumers and it sold 6.7m mince pies over the festive season.
The update said: “The fourth quarter results were achieved against a backdrop of continued disruption to staffing and supply chains. Our teams across the business have done a magnificent job coping under difficult circumstances and in recognition of this we brought forward the planned 2022 pay awards for our operational teams by five months.”
During the year 131 new shops were opened and 28 were closed, taking the estate to 2,181 shops, 375 of which are franchised shops. Its delivery service, in association with Just Eat, is now available from 1,000 Greggs shops.
The firm said that, whilst conditions in the first few months of 2022 are likely to remain challenging, it is confident it is well placed to make progress “on the many attractive opportunities that lie ahead”.
Mr Whiteside said: “Greggs has made great progress in 2021 despite tough trading conditions. Our teams across the business have done a magnificent job coping under difficult circumstances and, to recognise their hard work, we have brought forward the planned 2022 pay awards.
“We enter 2022 with a strong financial position that will support our ambitions to accelerate the rate of growth in our shop estate whilst developing new digital channels and extending the trading day. Whilst conditions in the first few months of 2022 are likely to remain challenging, we are confident that we are well placed to make progress on the many attractive opportunities that lie ahead.”
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