Tulip Ltd Initiates New Leadership Phase

In September 2016, Steve Francis took on the role of CEO at Tulip Ltd. Since his appointment, he has guided the company through the successful completion of the first stage of a long-term business transformation. Under Francis's leadership, Tulip Ltd has been fully restructured into four distinct divisions - Tulip Agriculture, Tulip Fresh, Tulip Food Company (UK), and Dalehead Foods. The senior team has also been entirely revamped, with nearly half of the top 60 directors and senior managers being new to the company. One of the significant accomplishments during his tenure has been the return to profitability of the Tulip Food Company (UK) division, which comprises the company's food processing sites. The acquisition of Easey Holdings last year further solidified Tulip Agriculture's standing as the UK's premier high welfare pig farming operation. Following the successful completion of the initial stage of the business transformation, Jais Valeur, CEO of Danish Crown and Chairman of Tulip Ltd, is set to assume the role of Executive Chairman of Tulip Ltd. He will work closely with the Tulip Ltd Executive Team in the daily operations of the company. Valeur expressed his gratitude to Francis for leaving Tulip Ltd in a much stronger position than when he joined. He noted that customer relationships have been restored, employee engagement has increased, and strong governance and leadership have been established across all divisions. Importantly, Tulip has transitioned from significant weekly losses to a much-improved trading performance. Valeur stated that the next phase of Tulip's turnaround program involves rebuilding the customer portfolio lost in previous years and reestablishing Tulip's status as the industry leader in the UK. His role will be to collaborate with the Executive Team at Tulip Ltd to ensure the continuation of the progress made and to leverage opportunities within the broader Danish Crown group for the benefit of their customers.