Greggs also announced the appointment of Matt Davies as chair designate. Davies joins the board with immediate effect and will be appointed as chair on November 1, 2022, when current chair Ian Durant will step down. Davies previously held CEO positions at Tesco UK & Ireland, Pets at Home and Halfords and chaired N Brown Group plc between 2018 and 2021. Greggs reported a "strong cash position and good liquidity, with net cash at period end of £145.7m, having paid a special dividend of 40p per share (£40.6m total) in April 2022." The Newcastle firm declared an interim dividend unchanged at 15p per share. In its outlook, Greggs said: " Despite market-wide inflationary pressures Greggs has continued to perform well. "Consumer behaviour is still recovering from the impact of the pandemic and employment levels are high.