Investment accounts
Adult accounts
Child accounts
Choosing Fidelity
Choosing Fidelity
Why invest with us Current offers Fees and charges Open an account Transfer investments
Financial advice & support
Fidelity’s Services
Fidelity’s Services
Financial advice Retirement Wealth Management Investor Centre (London) Bereavement
Guides
Guidance and tools
Shares
Share dealing
Choose your shares
Tools and information
Tools and information
Share prices and markets Chart and compare shares Stock market news Shareholder perks Stock plan guidance
Pensions & retirement
Pensions, tax & tools
Saving for retirement
Approaching / In retirement
Approaching / In retirement
Speak to a specialist Creating a retirement plan Taking tax-free cash Pension drawdown Annuities Investing in retirement Investment Pathways
Hilton Foods CEO Steve Murrells steps down
(Sharecast News) - Hilton Food Group said on Tuesday that chief executive Steve Murrells was stepping down with immediate effect. "The board and Steve have agreed that now is the right time to search for a new leader to take the business forward," the company said.
Murrells will be available for a period of transitional support until the end of December 2025, it added.
Non-executive chair Mark Allen has been appointed executive chair. Hilton Foods said he has "significant" food industry, consumer goods and public company experience and will provide "strong executive leadership of the business" while the board considers CEO succession.
The announcement came just over a month after shares in Hilton Foods tumbled as it warned that profit progression in the next financial year would be difficult.
In a trading statement in November, the company cited the emerging impact on demand from ongoing inflationary pressures and continued disruption at its smoked salmon business, Foppen.
"The group is in a strong financial position, and the board is confident in its long-term prospects," the company said on Tuesday.
"Although current trading remains challenging, the board's expectations for the financial year ended 28th December 2025 are in-line with the guidance given in the trading update of 11th November 2025."
Steve Murrells said: "Hilton Foods is a great business and I have been privileged to serve as its CEO. I'm particularly proud of the progress we have made in significantly expanding our international operations, most notably the expansion into Canada and Saudi Arabia."
At 1400 GMT, the shares were up 2% at 492.50p.
Broker Peel Hunt said it looked inevitable that there would be a change after the recent trading update.
"We expect Allen to focus on the basics, such as strong cost control and ensuring that the company is focused on the core fundamentals. He has a strong track record at Dairy Crest of addressing strategic issues with the sale of dairies to Muller, and of delivering for shareholders with the acquisition of the company by Saputo for £1bn," it said.
"The current rating shows a lack of confidence in delivery, in our view. This is an important first step in restoring shareholder value."
It has a 'hold' rating and 670p price target on the stock.
Share this article
Related Sharecast Articles
Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.
Award-winning online share dealing
Search, compare and select from thousands of shares.
Expert insights into investing your money
Our team of experts explore the world of share dealing.
Policies and important information
Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity, Equity & Inclusion | Diversity, Equity & Inclusion Reports | Doing Business with Fidelity | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Staying secure | Statutory and Regulatory disclosures | Whistleblowing programme
Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document which contains important information about the fund.
This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.
