Stephen Francis

Stephen Francis – IFT Fellow 

Widely experienced leader of business turnaround normally in CEO role.

On February 1st 2023, stepped down after successful 3-year turnaround of this great European group. SIG chairman Andrew Allner said: "Steve joined SIG in February 2020 at a time of huge uncertainty for the company. It is to his tremendous credit that Steve not only steadied the ship but went on to lead SIG out of turnaround and delivered a return to growth. It has been a pleasure to work with Steve, including in the decisions regarding the timing of this leadership transition.

"The board wishes to publicly recognise Steve's significant contribution to SIG and to record its thanks to him." In November 2022, SIG were honoured as Large Turnaround of the Year in the Institute for Turnaround (IFT) annual awards dinner.

In February 2019 Steve led, as CEO, the successful exit from Administration of Patisserie Valerie. Brought in by the plc Board, Steve built an outstanding management team and business plan in 2 months. He took the businesses into Administration and, working closely with the Administrator, led a successful management buy out to save the 96 remaining stores and bakeries. Jeremy Jensen, newly appointed NED and Chair of Audit Committee said "Steve got to grips quickly and helped manage the crisis in the business after the devastating fraud it had experienced and put together a plan to ensure that it continued to trade until the stakeholders decided on the best course of action. Steve was instrumental in assisting the Administrators to sell the business as a going concern and saving c2,000 jobs."

CEO role at Tulip Ltd.: left after just under 2 years. Jais Valeur, Tulip Chairman said: "Steve has led a rapid return from deep losses, re-built the entire middle and senior management and completed a major growth acquisition. Steve leaves Tulip Ltd in a far stronger state than when he arrived. Customer relationships are back to health and their confidence in our business has been restored. Tulip has moved on from recording significant weekly losses to much improved trading performance."

Previously Steve completed a successful 3-year stint turning around printer company Danwood for which he was nominated for 2015 CEO of the Year by CEO Magazine.

Renowned and experienced CEO for leading business transformations in established businesses underperforming their potential. Has spent most of the last 10 years in food manufacturing.

Has completed 5 turnarounds as CEO/ CFO in complex operational turnarounds of multi-site, international businesses with turnover £100m-£2bn. Steve’s experience covers large operational transformation/ restructuring, often but not necessarily in the context of financial distress or change of ownership.

Steve is known for his bias to action coupled with strong analytical skills, calmness in a storm, emphasis on teamwork and focus on strong business values and the highest standards of corporate governance. 

He has lived and worked in: UK, US, Australasia/ Middle East, Germany/ Northern Europe and is comfortable in multinational situations and across multiple sectors.