Fyffes’ chief resigns and son takes over

NEIL McCANN, the veteran chairman of fresh produce importers Fyffes stepped down from his post yesterday.

Mr McCann, credited with turning the company from a fruit importer and distributor in Ireland into one of the world’s top four fresh produce distributors, has been replaced by his son, Carl McCann, who has been the company’s vice-chairman.

Neil has been at the helm of the company since 1951 and led Fyffes to the stock exchange in 1981 when it had sales of 30 million. Since then, it has expanded rapidly through acquisition and organic growth in Britain and Europe. Last year, the company had full-year sales of 2 billion and pre-tax profits of 68 million. He will remain on the board as a non-executive director.

Carl McCann joined Fyffes in 1980 from KPMG, where he was a chartered accountant and become finance director in 1983, a position he held until 1998. Mr McCann was appointed vice-chairman in 1988. Fyffes had signalled in 1995 that Carl would take over the chairman’s job when his father stepped down. He has been responsible for the group’s acquisition programme and strategic planning.

“The board wishes to acknowledge the enormous contribution by Neil McCann to the creation and development of Fyffes plc into one of the world’s largest fresh produce companies,” the firm said in a statement.

Fyffes has also announced that Willie Walsh, the chief executive of Aer Lingus, will join the board as a non-executive from next January.

The company’s shares were flat in trading yesterday after the appointment was announced.