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Thorntons, the chocolate maker, has named John von Spreckelsen, the retailer who led a revival at supermarket Somerfield, as its new chairman.
Mr von Spreckelsen, who was chief executive of Budgens for nine years before becoming executive chairman at Somerfield, will be charged with reversing Thornton's ailing fortunes.
The confectioner said in February that profits had fallen to £12.8 million for the 28 weeks to January 7, down 4 per cent after weak Christmas sales left turnover 6.2 per cent lower at £112.3 million.
Senior independent director John Jackson began the search for a new chairman in February after the departure of Christopher Burnett in the wake of his failed attempt at a management buyout.
Following the Christmas slowdown, Mr Burnett cut his bid for Thorntons to £87.4 million from around £124 million. Independent directors at the company subsequently broke off talks, leading Mr Burnett to go.
Mr von Spreckelsen's appointment was welcomed in the City. "If anyone can nurture Thorntons, so that it eventually achieves the rumoured 180p+ that the family appears to be looking for, then von Spreckelsen is the man," analysts at Seymour Pierce said.
In mid-morning trade, shares in the group were 4.75p firmer at 120.75p. To track the stock click here.
Mr von Spreckelsen launched an overhaul of Budgens and grew profits for four consecutive years before reducing his commitment to the group in 2004. Somerfield was taken over for £1.1 billion last year after rejecting a £594 million offer three years earlier.
Mr Jackson said: "The board are delighted that they have secured the services of such a high calibre retail professional who has a proven track record of delivering excellent shareholder returns in the businesses he has managed."
Mr von Spreckelsen said: "Thorntons has an excellent product range and brand. I am looking forward to making a contribution to this company, which has a great tradition and heritage."
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