Premier Foods chairman to step down but shares edge higher

Premier Foods has confirmed reports over the weekend that its chairman is planning to leave later this year. The company - Britain's biggest food producer with brands including Hovis, Bisto and Batchelors' - said David Kapper would step down after six years once a successor had been found. With the company seemingly in reasonable shape at the moment, its shares have not been hit by the news. Indeed they have added 0.76p to 33p, a 2.36% rise. Kapper said: Following the successful completion of the acquisitions and integration of the Campbell's and RHM businesses and the recent financial restructuring, the group is now in a strong position and well placed for the future.