AUSTRALIA | CEO of Retail Food Group, Matt Marshall, has resigned, replaced temporarily by industry veteran Peter George.
Retail Food Group Limited has announced the resignation of Chief Executive Officer Matt Marshall, effective immediately, and the appointment of Non-executive Chairman Peter George as Executive Chairman while the Board conducts a global search for a new CEO.
George will take on all CEO responsibilities, effective immediately, with the Company committed to ensuring a smooth transition.
The Board thanked Marshall 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.
“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,” said George.
The Board will commence the search for a new CEO with substantial franchise experience and the ability to build and maintain strong relationships with internal and external stakeholders, including its Franchise Partners.
“Since joining RFG, I have been privileged to lead a dedicated team through a period of transformation. We have redefined our culture to be purpose-led and have relentlessly focused on delivering quality improvements in all areas,” said Marshall.
“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.”
George has enjoyed a successful 30-year career as a senior executive and non-executive director, including extensive professional experience of corporate turnarounds. He joined the RFG Board as a director in September 2018 and was Executive Chairman with CEO responsibilities from November 2018 until the appointment of Marshall in July 2023. George transitioned from Executive Chairman to Non-Executive Chairman in July 2024.
The company said in a statement that there will be no changes to its outlook or priorities of enhancing its core brands through prioritising retailing excellence and technology to expand them to at least 200 domestic outlets for each brand, and growing its network domestically in core brands, including via its new agreement to introduce the highly successful US brand Firehouse Subs in Australia, and internationally with Gloria Jean’s and Donut King.
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