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Permira’s Iglo Group set to lose CEO Martin Glenn

9 Jan 2013

Martin Glenn, chief executive of Iglo Group, the parent company of UK frozen foods business Birds Eye and a portfolio company of UK buyout firm Permira, is reportedly to step down.

Glenn was appointed chief executive in November 2006 and had previously worked with high profile food brands including Walkers Crisps and Tropicana. Between 1992 and 2006 he worked for PepsiCo where he helped grow the Walkers Snackfoods business in the UK, initially as marketing director and then as CEO.

In November 2006 he headed up Permira’s successful bid to buy the Birds Eye / Iglo frozen food business from Unilever.

In October 2012, AltAssets reported that the firm has revived plans to pay itself a $500m dividend by refinancing the frozen food company.

This followed a failed attempt to offload the business to fellow buyout group Blackstone and BC Partners.

Permira is nearing a first closing for its latest buyout fund, having gathered just a third of its €6.5bn target after almost a year and a half on the road.

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