Suffolk-based Muntons, one of the UK’s leading maltsters, has announced that its chairman, Paul Wells, is to step down after more than 34 years’ service.
Paul Wells
Paul joined the 104-year-old business as a director in 1990, before being appointed chairman in 2013. “Looking back over the years, I feel proud of having played a part in the growth of an exceptional company,” he said.
“Always a private company — starting with the founding families more than 100 years ago — Muntons has forged a steady path of building business across the world and investing profits back for future growth.
“Over half the UK’s private sector businesses are family-owned, and it is their resilience and patient capital that underpins the UK economy. Muntons is a leading example of the way businesses can benefit all stakeholders and communities.”
Paul, who is also non-executive chairman of Wells & Co Brewing Co in Bedford, will formally announce his retirement at Muntons’ annual meeting on Saturday, 17th May.
“It almost goes without saying that there are too many people to thank individually,” added Paul. “But I should like to mention the managing directors during my time at Muntons: Andrew Shelley, Gerald Prior, Alan Ridealgh and Mark Tyldesley. We would not be the company we are today without their strong leadership and vision, which Mark continues to demonstrate.”
‘His wisdom will be greatly missed’
Mark said: “Paul’s departure marks the end of an era. His influence, leadership, and strategic vision have been instrumental in shaping Muntons into the successful, forward-thinking company it is today.
“Under his stewardship, Muntons has strengthened its position as a global leader in sustainable malt production, expanding its operations, while remaining deeply rooted in its family values and East Anglian heritage. As he concludes his remarkable tenure, and on behalf of the entire team, we extend our deepest gratitude and best wishes for his well-earned retirement.
“On a personal note, I am deeply grateful for his mentorship and support over the past eight years. His wisdom will be greatly missed, but his impact will be felt for years to come.”
As part of the Muntons leadership transition, current board member Chris Thomas, a chartered engineer with a strong track record of successful leadership in the food and dairy sectors, who has been serving as senior independent non-executive director since June 2023, will be nominated as the new Muntons chairman. Chris has extensive experience of high-growth situations in major food businesses and leading multinationals, including PepsiCo, Mars, Tulip UK, and St Ivel.
