- McPherson’s (MCP) has appointed its interim CEO Grant Peck as Chief Executive Officer and Managing Director on a permanent basis, effective immediately
- The appointment comes with a fixed remuneration of $675,000 per year plus 200,000 performance rights
- Grant Peck comes with more than 30 years of branded consumer good experience, having previously held the role of CEO of Sunny Ridge Farms and CFO of Carlton and United Breweries
- Grant Peck is also currently playing a pivotal role in the review of Gallin’s takeover offer
- In March 2021, Gallin offered to acquire all shares in McPherson’s for $1.34 per share, an offer of 9.8 per cent on the prior day closing price and 4.1 per cent to the 3-month volume-weighted average price
- The company says this offer is not in the best interests of McPherson’s shareholders, as it undervalues the company
- McPherson’s is up 0.36 per cent, trading at $1.41
McPherson’s (MCP) has appointed interim CEO Grant Peck as Chief Executive Officer and Managing Director on a permanent basis, effective immediately.
The appointment comes with a fixed remuneration of $675,000 per year, inclusive of superannuation, plus 200,000 performance rights.
Grant Peck was appointed interim CEO on December 10, 2020, having been a non-executive director since December 2017. During his period as a director on the board, Grant served on the “people and culture committee” and was chair of the audit, risk management and compliance committee from February 2018 until January 2021.
Despite a thorough search and selection process undertaken by the board, Peck was endorsed unanimously after guiding the company during the last four months as interim CEO.
Grant Peck comes with more than 30 years of branded consumer good experience, having previously held the role of CEO of Sunny Ridge Farms and CFO of Carlton and United Breweries.
“Over the last four years I have worked with him in a Board context where he has displayed a deep understanding of McPherson’s business, which holds him in good stead to manage our team and portfolio of brands,” said McPherson’s Chairman Graham Cubbin.
The company says Grant Peck’s appointment further strengthens the capability of the existing management team.
Peck’s immediate focus will be on completing the company’s operational review for shareholders.
Grant Peck is also currently playing a pivotal role in the review of Gallin’s takeover offer. In March, Gallin offered to acquire all shares in McPherson’s for $1.34 per share, an offer of 9.8 per cent on the prior day closing price.
The company says this offer is not in the best interests of McPherson’s shareholders, as it undervalues the company.
The board is now working through an operational review.
McPherson’s is up 0.36 per cent, trading at $1.41 at 1:40 pm AEDT.