Samworth Brothers Appoints Charles Noble to serve as CFO Following Steve Bailey’s Retirement

Samworth Brothers has selected Charles Noble as its new Chief Financial Officer, taking over from Steve Bailey, who is set to retire by the end of this year. Noble will assume the role and join the executive board on January 2.

This appointment follows Samworth Brothers filing its Companies House accounts for the year ending December 31, 2022. The accounts showed a 21% increase in revenues to £1.4 billion, with the group passing on input cost inflation to customers. The recovery of the food-to-go segment and the acquisition of sandwich maker Freshways contributed to the increase in revenues. Despite challenges, including margin pressure due to inflation and consumer spending constraints, the group reported a 21% increase in pre-tax profits to £20.5 million, and Samworth Brothers expressed optimism about continued growth in 2023 despite ongoing challenges in the food industry.

Previously the CFO at AB Sugar, Associated British Foods’ sugar division, Noble has accumulated 24 years of experience in and around the food industry. He began his career in Unilever’s graduate training program in 1999.

Noble has held CFO and finance director positions at the US spices group McCormick for nearly four years and previously spent four years at ABF, including a role as director of finance at Allied Bakeries. He has also worked outside the FMCG industry, with stints at US freight railroad owner Genesee & Wyoming and the British Airports Authority.

Steve Bailey has served as CFO at Samworth for five years, contributing to the effective management and growth of the business in challenging trading conditions. CEO Hugo Mahoney expressed his appreciation for Bailey’s contributions and noted his strong leadership in various aspects of the business.

The company’s statement emphasized that Samworth Brothers remains “resilient,” with trading and results progressing throughout 2023, making the business stronger and more active than ever.

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