Retail Food Group (RFG) director and chairman Bruce Hancox has announced that he will retire from the board on 30 April.
Hancox has held the position for five years, and prior to that he held a number of corporate positions in the manufacturing and retailing industries.
He was also the strategic advisor for RFG’s Michel’s Pattiserie brand.
Queensland businessman Colin Archer, who has served as an independent director on the board for the past seven years, will replace Hancox.
He is the founding partner of Archer Gowland Chartered Accountants and his specialties include management and letting rights, property trusts, mergers and acquisitions and corporate governance.
Hancox felt the five year mark an appropriate time to retire from the role.
His decision was also prompted by the desire to devote more time to other work and personal commitments.
He said the board will be in good hands following his departure.
“It boasts a passionate and experienced executive team and a board of directors who collectively have the appropriate experience and skillset to successfully guide the company to new heights and deliver shareholders increasing returns.
“I would like to sincerely thank my fellow directors for their past support and counsel. I would also like to thank RFG’s talented executive team, staff and franchisees together with our shareholders who have supported the company during my tenure as chairman,” he added.
Archer praised Hancox, explaining he has left a solid foundation for RFG to continue to grow and prosper in the future.
“Bruce’s wise counsel, commitment and leadership during a period of considerable growth that has included key strategic acquisitions and significant organisational change have been invaluable to the development of the company and its positioning as one of Australia’s most successful franchisors. He leaves RFG with the Board’s best wishes,” he said.
Archer said RFG will look at appointing a new non-executive director to replace him as he takes on his new role as director and chairman.