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Management changes at Primark/Penneys

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11 September 2009

Associated British Foods plc ("ABF") the international food, ingredients and retail group, has today announced that Paul Marchant is to become Chief Executive of Primark/Penneys with effect from 13 September 2009.  Arthur Ryan, currently Chairman and Chief Executive, will retain his role as Chairman.

Paul Marchant joined Primark in January this year as Chief Operating Officer bringing with him a wealth of experience in retailing.  Since then, Mr Ryan and Mr Marchant have been working together to develop the business and continue its growth in the UK, Ireland and Continental Europe.

Arthur Ryan said:

“I am extremely proud of all that Primark has achieved.  As Chairman, I am looking forward to working with Paul to ensure the ongoing success and future development of the business.”

Paul Marchant said:

“This role is one of the most exciting in international retail and I am looking forward to working with Arthur Ryan and the rest of the Primark board to build on the success of the business to date.”

George Weston, Chief Executive of Associated British Foods, said:

“Since Paul joined Primark earlier this year, he and Arthur have been working together to drive its growth.  Paul will now take on day-to-day control.

Arthur is the creator, driving force and inspiration behind the business and will continue to bring his enormous expertise and experience to its development in his role as Chairman.”


For further enquiries please contact:

 

Associated British Foods    
John Bason, Finance Director                                        Tel:020 7399 6500

Citigate Dewe Rogerson
Jonathan Clare, Chris Barrie, Hannah Dean              Tel:020 7638 957

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