Primark owner on the hunt for new chairman

Who will it be?

Primark owner, Associated British Foods (ABF) is now on the hunt for a new chairman.

ABF has appointed headhunter Spencer Stuart to find a successor to Charles Sinclair.

Sinclair has led the company for eight years, he had helped build growth at Primark.

ABF recently warned that profits at the retail chain could come under some pressure due to weakness of the pound. Earnings at its sugar business will see growth.

ABF also owns many grocery products such as Patak’s, Ryvita, Jordans, Ovaltine and Twinings.

The firm’s search for a new chairman could include both existing non-executive directors as well as outside candidates.