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Governor of The Bank of England visits Apetito

Week commencing 14th February 2021 saw leading meals producer to the Care Home sector, apetito, welcome Andrew Bailey, the Governor of the Bank of England, to its Head Office and production kitchens in Wiltshire.

Mr Bailey had expressed specific interest in hearing from apetito in relation to its own, and a wider industry, perspective.  He was particularly keen to understand current labour market challenges, supply chain and raw material price pressures and the impact upon customer demand.

Richard Ring, apetito’s Chief Financial Officer, highlighted the company’s critical role in providing food to some of the most vulnerable in society, across care homes and healthcare.

He discussed with the Governor the challenge for business trying to absorb significant supply chain and energy price rises whilst mitigating impacts for customers at a time of such price volatility and uncertainty.

Also on the agenda was the importance of corporate action to address the challenge of Climate change and Director of Corporate Affairs and Policy Lee Sheppard highlighted how apetito is taking an industry leading position on its approach to Net Zero, by significantly decarbonising across the company’s supply chain.

Mr. Bailey was interested to hear how elements of addressing the Climate Change agenda make good commercial sense as well as being the right thing to do, a message that needs to be conveyed more widely.

Mr Bailey said how impressed he was that apetito was able to combine a successful business with one that really makes a difference to its customers and consumers.

Speaking for apetito, Richard Ring said:  “apetito is proud of its track record of growth and combining that with a mission to make a real difference to the lives of our customers.

“Whilst current supply chain pressures are posing real challenges for industry more widely, we remain committed to investing for growth and positioning ourselves as one of the UK’s leading food businesses.”

As well as proving essential front-line meal services, the company invests heavily in providing world-leading, specialist nutritional meals to customers living with conditions such as swallowing difficulties and dementia.  It has won no less than three Queens Awards for Enterprise in categories of Innovation and Sustainable Development.

Mr Bailey began his term on the 16th March 2020, and served as Chief Executive Officer of the Financial Conduct Authority (FCA) from 1 July 2016 until taking up the role of Governor.

As CEO of the FCA, Andrew Bailey was also a member of the Prudential Regulation Committee, the Financial Policy Committee, and the Board of the Financial Conduct Authority.

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