Tulip to split business into four divisions
Tulip is planning to split its business into four unique divisions after newly-appointed CEO Steve Francis admitted the pork processor had “lost its edge” in the UK meat industry.
Tulip’s CEO Steve Francis has been in the job less than a fortnight and is already making sweeping changes to split the pork processor up into four business divisions: Tulip Fresh, Tulip Added Value, Tulip Agriculture and Dalehead Foods.
News of the spin-off comes as Francis, a business restructuring and turnaround guru, admitted the company needed to “regain its mojo” in an extremely competitive marketplace. Tulip has previously confirmed it expects to post a loss this year.
“I want to simplify what we do, which isn’t terribly difficult because we’re a great business with fantastic customer relationships, so we are starting out from a position of strength,” said Francis in a press statement.
“What we need to do is to reinforce the things we are already doing well and stop what we are doing less well. We need to simplify our business and add pace.”
Francis added: “It would be fair to say that the business has lost some of its focus while operating in an extremely competitive marketplace… It’s not that Tulip has gotten worse, more a case of the competition having moved forward.”
Each of the four business divisions created by Tulip will have its own leadership team, key performance indicators and strategy, while at the same time remaining part of a single organisation. This new strategy, combined with the company re-evaluating its business objectives, is part of a plan to ensure Tulip is the UK’s leading pork company.
Tulip is a subsidiary of Danish Crown, which claims to be the largest pork producer in Europe and one of the world’s leading pork exporters.
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