Genius Foods is set to welcome a new CEO as it embarks on the next stage of its strategic transformation under the ownership of German confectionery group Katjes. After less than 18 months in the role, current CEO Adam Smart will be stepping down, with Stephen Hann, CEO of wrapper-free snack bar brand One Good Thing, taking over in January.
Katjes, which acquired Genius Foods in June 2022, initiated a strategic shift towards high-margin products and a stronger market position in the UK. Smart, who joined as CEO in April 2023, was credited this week for his role in “stabilising the business” during this transitional period.
Genius Foods has faced significant challenges in recent years, with declining sales and increasing competition from rivals such as Warburtons and Promise. The gluten-free baker posted an operating loss of £2.6 million in 2022, despite a 6% rise in sales, and retail sales continued to decline by 12% in 2023, falling to £11.7 million, according to The Grocer’s Top Products survey.
During his tenure, Smart led efforts to streamline Genius Foods’ operations, optimise logistics, and refine the company’s product portfolio. He also oversaw the company’s exit from the US and Australian markets. Reflecting on his time at Genius, Smart said: “It has been a rewarding challenge to lead Genius Foods through this period of reorganisation. With the strong foundations we have established, I am confident that the company will continue to thrive under Stephen Hann’s leadership.”
Hann brings over 20 years of experience in the fast-moving consumer goods (FMCG) sector, with previous leadership roles at Kraft Heinz, Graze, and Tails.com. Commenting on his new role, Hann stated: “I’m thrilled to be joining Genius Foods at such a pivotal time. This is a company with incredible growth potential, and I’m eager to build on the strong foundation laid by Adam, driving the business toward new heights in operational efficiency and market expansion.”
Bastian Fassin, Genius board member, expressed gratitude for Smart’s contributions, saying, “Adam has stabilised the business and built a strong team. We thank him for his dedication and are delighted to welcome Stephen Hann as an experienced successor to lead the company through its next phase of development.”
Founded in 2009 by Lucinda Bruce-Gardyne after her son was diagnosed with coeliac disease, Genius Foods has been a pioneer in the gluten-free sector, and the company’s leadership change marks the start of a new chapter in its growth trajectory.
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