Greggs (LSE: GRG) has confirmed that Chief Financial Officer Richard Hutton will retire at the end of 2026 after nearly three decades with the British bakery chain.
Hutton has served as a board director for 20 years, making his tenure one of the longest among senior executives at any major UK food retailer.
The company has appointed former Bakkavor executive Ben Waldron as CFO-designate and executive director to succeed Hutton in the top finance role.
Waldron is expected to join Greggs in late October 2026, giving him roughly two months to familiarise himself with operations before formally taking the CFO title on 1 January 2027.
Hutton will remain in his current position until the end of the year to ensure a smooth and orderly handover of responsibilities across the finance function.
Waldron brings extensive financial and operational experience gained across international food businesses, credentials the Greggs board views as well-suited to the group’s long-term growth ambitions.
The planned transition reflects Greggs’ stated focus on maintaining continuity in financial leadership at a time when the business faces a more complex operating environment.
Greggs’ investment outlook is supported by a resilient core operation, though earnings quality softened during 2025 as margins, earnings per share, and free cash flow all weakened while leverage increased.
The company’s valuation remains relatively attractive, with a price-to-earnings ratio of around 14 and a dividend yield of approximately 3.34%, according to available market data.
Technical indicators are broadly constructive for GRG shares, although momentum signals are described as mixed at present.
Management has maintained a balanced outlook, pointing to positive sales trends and a manageable inflation and capital expenditure environment, while acknowledging flat profit expectations.
Continued investment in the supply chain remains a key priority, with the business expanding its national footprint and building operational capacity to support future store growth.
Greggs operates a nationwide network of bakeries and takeaway outlets, serving value-focused consumers across high streets, retail parks, transport hubs, and convenience locations throughout the United Kingdom.
