Premier Foods shakes up board following strategic review

British food manufacturer Premier Foods has shaken up its boardroom following a strategic review aimed at increasing shareholder value.

Premier Foods has replaced non-executive directors Ian Krieger and Jennifer Laing with Daniel Wosner of Oasis Management and Orkun Kilic of Paulson & Co.

The London-listed outfit also appointed Cash on the Move chairman Simon Bentley to the board as a non-executive director, with immediate effect.

Premier assured investors it would remedy some undisclosed areas of non-compliance with the UK Corporate Governance Code arising from the changes "as soon as is practicable".

Chairman Keith Hamill said: "I would like to thank Ian Krieger and Jennifer Laing for their significant contribution to the Board over the last six years."

As of 1615 GMT, Premier shares had picked up 2.96% to 38.25p.