Francis Kint at Greenyard
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Francis Kint at Greenyard

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The ex-CEO of Ter Beke is an old acquaintance for Greenyard major shareholder Hein Deprez.

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Remarkable news at Greenyard

: Francis Kint becomes the chief executive of the frozen food division (Frozen) at the fruit and vegetable giant. He will succeed Erwin Wuyts on 1 July, who will leave on 1 November.

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Kint took start this year surprisingly after three years of layoff as CEO of the fresh food group Ter Beke. The manager is no stranger to Greenyard and major shareholder Hein Deprez. Kint was already CEO of Univeg, one of the parts of the current Greenyard, from 2013 to 2015.

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In recent years, Greenyard had to work hard to cover its mountain of debt. The financial year up to the end of March ended with debts just under three times gross operating profit (EBITDA) amounted to. Two years earlier, the mountain of debt was more than seven times EBITDA, but the combination of the return to profitability and the sale of various assets made the situation less dire.

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The improved balance sheet brought relief to investors. For a long time they feared a dilutive capital round, but that fear now seems to have disappeared. Since New Years, the stock has already recovered 70 percent.

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