Simon Bowers 

Ex-Sainsbury’s man joins breadmaker

Roger Matthews, the former finance director of J Sainsbury, has been appointed as a non-executive director at RHM, the flour and bread group which floated on the stock exchange last month with a £1bn valuation.
  
  


Roger Matthews, the former finance director of J Sainsbury, has been appointed as a non-executive director at RHM, the flour and bread group which floated on the stock exchange last month with a £1bn valuation.

Mr Matthews, who will chair RHM's audit committee, left Sainsbury's in October last year, six days before the supermarket warned first-half profits would be two thirds lower than the previous year.

Also joining the board of RHM - formerly Ranks Hovis McDougall - is Michael Baulk, chief executive of BBDO AMV the advertising group.

Mr Matthews' departure from Sainsbury's was the sixth boardroom exit in 10 months. In a statement at the time, the supermarket said the 50-year-old finance director had taken early retirement.

His departure came six months after current chief executive Justin King was brought in to reverse declining sales. Mr King removed managing director Stuart Mitchell and his arrival was narrowly preceded by the departure of joint managing director Sara Weller.

In July last year Sir Peter Davis was ousted as chairman following shareholder protests over his bonus. Two non-executive directors also left the board.

Of the two RHM appointments, chairman Jan du Plessis said: "They will add valuable expertise to the company." The non-executive appointments help RHM meet corporate governance standards following its listing.

 

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