Research reveals changing face of meat industry
New appointments at the top of the UK's largest 1002 meat companies is set to prompt a radical change in their behaviour and put even greater pressure on those with ageing boardrooms, according to research by industry analysts Plimsoll Publishing.
The research reveals that there have been 699 new appointments at director level in the last 18 months in an industry with 2201 directors in total.
It also states that the average director's salary in the meat industry was £61,706 last year compared to the UK director's average salary of £68,500.
According to Plimsoll, new blood represents a transformation of the industry, with new ideas, renewed focus and different ways of working.
Senior analyst, David Pattison, said: "There has never been a more important time to take note not just of the companies you are doing business with, but of the decision makers behind those companies.
"We all know that companies do not do business with companies - people do business with people.
"But the people are changing, and firms will be caught out and lose business as a result, simply because they took a customer, competitor or supplier for granted on the basis of an older management style."
Plimsoll's analysis has investigated each company's financial performance and offers views on the challenges the new directors face, as well as the strategies they are deploying to stamp their mark on the industry.
The research finds that for 202 of them the challenge is to keep the company afloat, while for 497 others it is to deliver industry-leading performance. In both cases, a change in the way of doing things looks inevitable.
Pattison said: "The reasons for the new appointments are varied. Some have been taken on with the direct objective of finding a buyer for the company, while others look as if they have been appointed to see through a management buy-out.
"Whatever the reason, this wave of new blood is simply the start. Almost a quarter of directors are over the age of 60, and we will see yet more evolution in the not too distant future."
Plimsoll research found that the typical time in office in the meat industry is now more than four years, compared to the UK average of just over seven years.
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