Matthew Marshall has been appointed CEO of Retail Food Group (RFG), effective July 1.
As head of retail with the group, Marshall was instrumental in implementing the business’ franchisee-first and customer-centric values and strategy and has been internally promoted from his current position as the head of retail, the company said.
Executive chairman Peter George said the board is confident that Marshall has the “skills and energy necessary to assume broader responsibilities” for the company’s growth strategy.
To ensure an orderly succession, George will continue in his role for a further two years.
Of his appointment, Marshall said he is looking forward to shaping the company’s future, maintaining its retail and franchisee-first mindset to realise its potential.
Meanwhile, in a trading update, the company said year-to-date domestic sales have grown 8.5 per cent to $478 million with second-half sales moderating due to macroeconomic conditions.
“The impact on trading conditions of successive interest rate rises, together with general inflationary pressures, has become more apparent in H2. We expect these factors will continue to influence the domestic trading environment for the foreseeable future,” said the company in a statement.
The company expects FY23 underlying EBITDA guidance to be in the range of $26 million to $29 million.
RFG owns and operates Gloria Jean’s, Crust Gourmet Pizza, Donut King, Brumby’s Bakery, Cafe2U Michel’s Patisserie, Pizza Capers and The Coffee Guy.
