Retail Food Group (RFG) have today announced that Andre Nell will succeed Tony Alford as managing director from July.
“My career, experience and understanding of RFG’s unique business model have placed me in an excellent position to lead the group during its next chapter of growth,” said Nell. “It truly is an exciting period for the company, with an accelerated growth plan established during 2015 and garnering increased traction, evidenced by the company’s strong 1H16 performance.”
Nell’s remuneration as a result of the move to company MD will see him earn $600,000.
As part of the ‘transition,’ Alford will move to a non-executive directors position on the RFG board.
“Tony led RFG through strong growth as a private company, before successfully listing in 2006,” said RFG chairman, Colin Archer. “RFG has continued to flourish as a public company under his leadership, experiencing rapid but controlled growth as a consequence of the strategies employed during his tenure.”
Archer said Alford had contributed towards transforming RFG from a ‘relatively obscure and challenged business’ with 100 franchised outlets, into an global international coffee and retail franchise, with a network surpassing 2500 outlets.
“Family, health, personal reasons and new opportunities have played no part in the resolve to retire from the position of managing director,” said Alford. “On the contrary, after twenty years’ service, the enthusiasm and energy remains as does the passion and confidence in the future of RFG.”
“Being one of six inaugural members of the company’s executive management team, Andre and myself have worked closely for many years. “Andre’s elevation from CEO franchise is a natural progression and forms part of the long term succession process that has been cultivated within the organisation for some time.”
The changeover comes after the coffee chains aggressive acquisition program saw RFG post a marked profit increase in their half yearly results.
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