Greencore to set up dedicated IR function with sell-side hire

Davy analyst to join in May following AGM discontent on remuneration

Irish convenience foods producer Greencore has appointed Jack Gorman to the newly created position of head of IR, starting in May.

A graduate of University College Dublin, Gorman has been serving as a sell-side analyst at Davy since 1996, subsequently covering small caps and the healthcare and food sectors.

The appointment comes as the London-listed firm has expanded into the US with the acquisition of Illinois-based Peacock Foods, which has brought a new range of international institutions into the shareholder base.

Greencore’s latest AGM reportedly suffered some unrest, with 40 percent of investors rejecting CEO Patrick Coveney’s new pay package, according to the Irish Times. The proposed remuneration would have entitled Coveney to up to 200 percent of his salary in bonus shares, depending on performance.

Dublin-headquartered Greencore was due to merge with Northern Foods in 2011 but was outbid by the Birmingham-based, privately held 2 Sisters Food Group. The FTSE 250 constituent has since purchased Uniq and The Sandwich Factory.

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