LONDON (Reuters) - Britain’s Premier Foods (PFD.L) said on Tuesday a member of the board of directors representing activist investor Oasis Management had stepped down from the firm’s remuneration committee.
The maker of Mr Kipling cakes and Bisto gravy said the representative, Daniel Wosner, continues to serve as a director on its board. Wosner, the Hong Kong-based investor’s head of Europe, was appointed to the board in March.
Oasis recently raised its stake in Premier Foods to 8.84 percent.
Premier Foods has come under shareholder pressure in recent weeks. London-based fund Cape Wrath Capital sent an open letter dated 29 June to Premier’s chairman, David Beever, complaining about “management credibility” particularly since Premier last year rejected a takeover approach from U.S. rival McCormick & Co (MKC.N).
Reporting by Martinne Geller; Editing by Edmund Blair and Pritha Sarkar