Karakaş is also rescinding his duties as deputy chairman of parent company Yildiz Holding, however, he is being retained as an advisor to the United Biscuits UK Board.
The company’s Board said it had commenced a formal search and selection process to find a permanent replacement for Karakas, but in the interim, Jim Zaza is taking over the reins.
Zaza is chairman of United Biscuits UK and has been an executive on the pladis board since its inception. He has also held senior executive positions at PepsiCo, Black and Decker and Eastman Kodak.
Karakas, formerly Yildiz’s CFO, was appointed chief executive of the UK-headquartered pladis when it was set up in 2016.
The company, which also produces Godiva chocolates, Jacob’s and go ahead!, is one of the fastest growing companies in the sector posting a £3.5bn gross revenue in 2017.
It has a 17,000-strong global workforce spanning 34 factories in 13 countries.
