Lees Foods: Chairman and CEO steps down

Coatbridge / UK. (lf) Scottish cake and sweet supplier Lees Foods PLC announced that Raymond Miquel CBE, Chairman and Chief Executive of the company, is to leave both roles with immediate effect. Miquel stepped in to rescue Lees in 1993, when the Company was close to bankruptcy and was losing over one million GBP annually. He introduced management controls, rationalised the product range and changed the business into being customer focussed, resulting in the operation quickly returning to a profitable position. In 1998, Lees moved into a new purpose built factory in Coatbridge (North Lanarkshire, UK), which was down to Miquel´s determination to improve Lees´ production efficiencies and the working conditions for the staff and factory workers. Lees now comprises its principal business of Lees of Scotland and the Waverley Bakery, which was acquired in 2003. Under Miquel´s leadership staff numbers have grown from approximately 130 to around 250 and the turnover for both companies rose to 16,5 million GBP in 2008. In 2005, Lees’ shares were admitted to the Alternative Investment Market, to raise the Company´s profile and position it for further expansion.