Planned leadership transition to take effect in 2027
Greggs (LSE:GRG) has announced that Chief Financial Officer Richard Hutton will retire at the end of 2026 after 28 years with the business, including 20 years as a board director.
Hutton will remain in his current role until the end of the year to ensure an orderly handover, reflecting the company’s focus on maintaining continuity throughout the leadership transition.
Ben Waldron named CFO-designate
The board has appointed former Bakkavor executive Ben Waldron as CFO-designate and executive director. He is scheduled to join Greggs in late October 2026 before officially assuming the role of Chief Financial Officer on 1 January 2027.
With extensive financial and operational experience across international food businesses, Waldron is expected to support Greggs’ long-term growth strategy while providing continuity in the group’s financial leadership.
Solid fundamentals tempered by near-term pressures
Greggs’ investment outlook continues to be supported by a resilient operating business, although earnings quality softened during 2025 as margins, earnings per share and free cash flow weakened while leverage increased.
The company’s valuation remains relatively attractive, with a price-to-earnings ratio of around 14 and a dividend yield of approximately 3.34%. Technical indicators are generally constructive, although momentum signals are mixed. Management has maintained a balanced outlook, highlighting positive sales trends and a manageable inflation and capital expenditure environment, while acknowledging flat profit expectations and continued investment in the supply chain.
More about Greggs plc
Greggs plc is a UK-based food-on-the-go retailer operating a nationwide network of bakeries and takeaway outlets. The company offers a wide range of freshly prepared food and drink, including pastries, sandwiches, savouries and hot beverages, serving value-focused consumers across high streets, retail parks, transport hubs and convenience locations. Greggs continues to expand its national footprint while investing in operational capacity to support future growth.
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