Retail Food Group (RFG) CEO Matt Marshall has resigned, effective immediately, with Peter George taking on the role as the company begins its global search for a new CEO.
George, who is currently the non-executive chairman of the board, will assume all CEO responsibilities in the interim and has been appointed as the company’s executive chairman.
This comes after the company reported a $14.9 million net loss after tax, as compared to the same period last year, when it saw a profit of $5.8 million.
“The board would like to thank Matt for his hard work and commitment to the company over the past five years, the last two as CEO – a period that saw a steady improvement in underlying performance, as reflected in the recent FY25 results,” said George.
“Retail Food Group has made significant progress in that time, resolving legacy issues and sharpening its focus on the core brands with the greatest growth potential – Gloria Jean’s, Donut King, Beefy’s Pies, Crust and now Firehouse Subs.”
George said that the company will begin its search for a new CEO with “substantial franchise experience and the ability to build and maintain strong relationships with internal and external stakeholders, including our franchise partners.”
George joined the RFG board in 2018 and was executive chairman with CEO responsibilities until Marshall was appointed to the role in 2023.
“Since joining RFG, I have been privileged to lead a dedicated team through a period of transformation,” said Marshall.
“We have redefined our culture to be purpose-led and have relentlessly focused on delivering quality improvements in all areas.
“These foundations will benefit franchise partners, our team and all stakeholders into the future. I am deeply proud of the progress we’ve made and grateful to the team who have made it possible.”
In a statement to the ASX, RFG stated that it remained committed to enhancing its core brands through technology and to expand to at least 200 domestic outlets for each brand, while remaining focused on growing its network domestically, bringing US-based Firehouse Subs to Australia, and internationally, through its Gloria Jean’s and Donut King focus.
