Boparan Holdings appoints Paul Friston as CFO

UK – Boparan Holdings Limited (BHL), the parent company of 2 Sisters Food Group, has confirmed the appointment of Paul Friston as its new Group Chief Financial Officer (CFO).

Friston is set to join the company in early February and will also become a member of the BHL Board.

Friston brings 28 years of experience in financial and corporate leadership, primarily from his tenure at Marks and Spencer. 

A qualified chartered accountant, he has held key roles in finance, strategy, and commercial operations, and led the retailer’s international business as Managing Director for six years.

He replaces Nigel Williams, who is stepping down to return to Australia due to family commitments.

Commenting on the appointment, BHL President Ranjit Singh said, “Paul’s expertise comes at a significant time for the business. 

We anticipate working closely with him to achieve our sustainability and investment goals, which are central to our future plans.”

Friston expressed enthusiasm about his new role, saying, “I’ve always respected 2 Sisters as a leader in UK food manufacturing. Despite the challenges in the competitive and cost-driven food sector, the company’s ambition and potential make this an exciting opportunity.”

Meanwhile, Boparan Holdings has recently undertaken major financial restructuring. 

Last September, Boparan completed the sale of the company’s European poultry operations, valued at over US$221.2 million, to Boparan Private Office, a private investment entity owned by his family.

The sale involved 2 Sisters Storteboom, which employs over 2,700 people. 

According to 2 Sisters Food Group, the transaction aimed to improve financial stability by reducing the company’s debt to its lowest level in more than a decade.

This development aligns with the company’s preparations for upcoming bond financing expirations and potential refinancing discussions.

Sign up HERE to receive our email newsletters with the latest news and insights from Africa and around the world, and follow us on our WhatsApp channel for updates

Newer Post

Thumbnail for Boparan Holdings appoints Paul Friston as CFO

Südzucker reports revenue decline amid lower EU sugar prices, market challenges

Older Post

Thumbnail for Boparan Holdings appoints Paul Friston as CFO

Hormel Foods CEO Jim Snee to retire at the end of fiscal year 2025