Premier Foods appoints CFO as interim CEO

British food manufacturer Premier Foods has named Chief Financial Officer Alastair Murray as acting CEO as it seeks to find a successor to Gavin Darby.

Darby is stepping down on January 31 amid increasing pressure from hedge fund Oasis Management which follows a 2.2 percent drop in Q3 revenue. Group sales were £255.6 million in the third quarter of the year, £5.8 million lower than the same period a year ago, the company said.

Premier Foods produces well-known brands such as Mr Kipling, OXO and Bisto.