Mr Ronald will go as part of the Uniq shake-up

The move is part of a shake-up which Uniq hopes will save it �6m ($11.5m) in the coming financial year - rising to �20m a year by 2007.

The revamp will cost the company about �38m over three years, Uniq added.

Under the changes it has ditched plans to build up a pan-European chilled food business and will look to operate three separate divisions instead.

The divisions will cover the UK, southern Europe and northern Europe.

The Buckinghamshire-based company is a major supplier to leading supermarket groups in Europe and its customers include Marks & Spencer.

New strategy

The changes follow a five-month review aimed at improving profitability and growth at Uniq, which employs 8,700 people at 30 sites across Europe including nine in the UK.

The new strategy requires a different set of leadership skills Uniq statement Check Uniq's share price

The review was carried out as the firm searched for a buyer. However, bid talks collapsed amid concerns over a �100m pension plan black hole at the group.

To carry out the changes the group said it had been decided "the new strategy requires a different set of leadership skills to drive rapid change and introduce leaner and more responsive management structures".

As a result chief executive Bill Ronald - who has been in place since 2002 - will be leaving the firm "by mutual consent".

During a search for Mr Ronald's successor chairman Nigel Stapleton and his three divisional managing directors will take on extra responsibilities.

Looking ahead, the firm warned tough trading conditions in its home market meant the year ahead would remain "challenging".