Food retailer Greggs has appointed former Bakkavor executive Ben Waldron as its next CFO, succeeding long-serving finance chief Richard Hutton, who will retire at the end of 2026 after 28 years with the company, including two decades on the board.

Waldron will join Greggs on 27 October as CFO-designate and executive director before formally taking over the role on 1 January 2027. Hutton will remain in position until the end of the year to support an orderly handover.

Waldron spent more than 14 years at Bakkavor, one of the UK’s largest fresh‑prepared food manufacturers, in a series of senior leadership roles including CFO, group strategy director and CEO positions across Asia and the US. More recently he has worked in advisory roles in Australia following his departure from the food maker.

Matt Davies, chair of Greggs, said Waldron’s combination of financial, commercial and operational experience, together with his experience in senior operational leadership roles within an international food manufacturing business, "will be an invaluable asset to Greggs".

Waldron said: "I am delighted to be joining Greggs, a great British brand with a strong culture and exciting opportunities for continued growth. I look forward to working with Matt, Roisin, the Board and the wider Greggs team to support the next stage of the Company's development."

Greggs shares fell around 5% in trading following the news, as investors digested the departure of a long-serving executive during a period of slower profit momentum and unchanged guidance.

The company, based out of Newcastle-upon-Tyne, reported 2025 revenues of £2.15bn, up 6.8%, but with operating profit falling 4% to £187.5m and operating down to 8.7% from 9.7% in 2024.

Russ Mould, investment director at AJ Bell, said the new appointment "looks like a good hire", bringing a mix of financial and strategic experience in the food sector and qualities that suggest he is "capable of being more than just a numbers man".

Mould added: "Whether he is ever considered a potential replacement for incumbent CEO Roisin Currie in the future is anyone’s guess, but his appointment certainly looks like a meaty one."

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