Quorn Foods, the UK-based meat-free business, has appointed former Heineken executive David Flochel as its new CEO.
Flochel, whose career also includes stints at Mars and Unilever, will join the Monde Nissin-owned business next month.
He will succeed Marco Bertacca, who took the helm at Quorn five years ago.
In recent years, Quorn has seen its sales come under pressure, notably in the UK retail channel, amid slowing demand for meat-free products.
In 2022 and 2023, Monde Nissin booked impairments against its meat-alternatives operations, which house Quorn Foods.
Bertacca said: “Despite the challenges with overall growth in the last few years, we have improved Quorn retail market share, achieved yearly growth in our foodservice and QSR business and launched the new Marlow Ingredients business unit. I know Quorn is in good hands. David is bringing an incredible depth of knowledge and experience into the company, and we are already working closely together to ensure a smooth transition.”
In August, Monde Nissin reported falling revenues from its Meat Alternative division, which houses the Quorn Foods business.
In the first half of the group’s financial year, the Meat Alternative division saw its net sales drop 4.2% to 6.8bn Philippines pesos ($117.7m). “Comparable” net sales, made after an IFRS adjustment, dipped 0.6%.
Monde Nissin’s group first-half net sales grew 2.4% to 40.14bn pesos. The company also sells instant noodles, bakery products and biscuits in Asia Pacific.
The company said the “core gross profit” from its Meat Alternative division fell 19.1% on a reported basis and by 5.6% on a comparable basis in the first half of the year. However, it booked a 3.9% comparable increase in the second quarter thanks to lower input costs.
The business unit’s comparable net sales fell 2.7% in the second quarter, compared to a 4% drop in the opening three months of the fiscal year.
Nevertheless, speaking to analysts when the results were published, Nick Cooper, the CFO of the Quorn business division, said underlying sales, adjusted for customer de-stocking, were down 9%. That decline was comparable to the opening three months, he added.
“This top-line trajectory is worse than we’d anticipated at the start of the year and is largely driven by the fact that the UK retail market continued to decline double-digits in the quarter,” Cooper explained.
“In this environment, we’re very much focused on protecting cash and profitability, while at the same time funding targeted investments to drive a return to top-line growth.”
Announcing the change in CEO today, Monde Nissin CEO Henry Soesanto said: “Marco has been instrumental in leading Quorn through many pivotal moments in its history. His passion for the company, our mission and values has been unparalleled.
“We are delighted to welcome David to the team and are confident that under his leadership, Quorn Foods will thrive and continue to be the global leader of the alternative protein sector.”
Flochel, whose most recent role was at consumer-health company Haleon, said: “Quorn Foods has a strong history of success but 2025 will be a reset year for the company. This is a brilliant opportunity to transform the business into the next stage of its journey and I am delighted to be taking on this new role. I believe that with the right focus and execution we can turn around the company and current category performance.”
