Retail Food Group Announces Regarding Appointment of CEO

The Board of Retail Food Group Limited announced the promotion of Richard Hinson to Group Chief Executive Officer, effective immediately.

Mr Hinson commenced with RFG as Chief Executive – Australia in January 2018 to lead implementation of the Company’s strategic business review, to simplify the Group’s operating model, and to improve the sustainability and performance of RFG’sfranchise network. In that role, Mr Hinson has been responsible for the Group’s domestic franchising network, working with franchisees to strengthen and improve their businesses.

A summary of Mr Hinson’s material terms of employment as Group CEO is attached.

The senior executive team leading RFG is:

  • Richard Hinson, Group CEO;
  • Darren Dench, Chief Executive – Di Bella Coffee; and
  • Peter McGettigan, Chief Financial Officer.

Managing Director, Andre Nell, will leave the Group on 29 May 2018.

These management changes demonstrate the Board’s commitment to closer integration between head office, support structures and RFG’s franchise network.

Richard Hinson and Darren Dench are focused on improving performance of RFG’s core domestic franchising and global coffee businesses, and their leadership has made a significant positive impact on the business in challenging retail trading conditions.

Since February 2018, the Group has delivered franchisees reductions in cost of goods, renewal and new store fees, and worked with franchisees to pilotinnovative new store concepts. The senior executive team has been committed to working closely with franchisees on a range of performance improvement initiatives, including new product range and quality, supply chain improvements, a group customer loyalty program, and other promotional activities.

Mr Hinson said, “Our core business is fundamentally sound and we are working hard to improve franchisee relationships and profitability. We are revitalising the network to focus on our customers first; improving performance, driving innovation and improving communication and transparency with our franchisees. This is a 12- 18 month turnaround of the RFG business.

“Trading conditions in food retailing continue to be tough. The actions we are taking in collaboration with franchisees are starting to see a positive response.”

RFG Chairman, Colin Archer, said, “Richard is gaining the confidence of our franchisees and has restored some momentum to the business by delivering immediate benefits and focusing on longer term strategic plans for each Brand System.

“Our core Brand Systems are in good hands under the leadership of Richard, Darren and Peter, and we are seeing early signs of improving performance,” Mr Archer said.

“On behalf of the Board, I would like to thank Andre for his dedicated service to Retail Food Group in a range of senior executive roles since 2007, and wish him well for his future endeavours.”

Richard Hinson has almost 30 years’ experience in the retail food sector and has held national executive positions at Wrigley Pacific and Metcash Supermarket and Convenience. He has extensive experience in supply chain, integrated business processes, sales and marketing, and customer service.

Darren Dench joined RFG in early 2017 and moved into the new position of Global Head of Coffee in December 2017. Darren has previously held senior positions with Colgate, Mars, Ferrero and Lavazza. He has more than 25 years’ sales, marketing and general management experience across more than 60 countries, and has a deep understanding of the key drivers for creating a successful international coffee business.


Disclaimer

The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. Kalkine.com.au and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). The information on this website has been prepared from a wide variety of sources, which Kalkine Pty Ltd, to the best of its knowledge and belief, considers accurate. You should make your own enquiries about any investments and we strongly suggest you seek advice before acting upon any recommendation. Kalkine Pty Ltd has made every effort to ensure the reliability of information contained in its newsletters and websites. All information represents our views at the date of publication and may change without notice. To the extent permitted by law, Kalkine Pty Ltd excludes all liability for any loss or damage arising from the use of this website and any information published (including any indirect or consequential loss, any data loss or data corruption). If the law prohibits this exclusion, Kalkine Pty Ltd hereby limits its liability, to the extent permitted by law to the resupply of services. There may be a product disclosure statement or other offer document for the securities and financial products we write about in Kalkine Reports. You should obtain a copy of the product disclosure statement or offer document before making any decision about whether to acquire the security or product. The link to our Terms & Conditions has been provided please go through them and also have a read of the Financial Services Guide. On the date of publishing this report (mentioned on the website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s