13th Mar 2019 14:10
LONDON (Alliance News) - Real Good Food PLC said Monday that Chief Financial Officer Harveen Rai will step down and leave the company at the end of the month.
The cake decoration and food ingredient firm gave no reason for Rai's departure. It said Chief Executive Hugh Cawley will take over the responsibilities of the CFO role until a replacement is found. It noted that Cawley is himself a chartered accountant.
The process for finding a new CFO will start shortly, Real Good Food said.
"On behalf of the board, we would like to express our thanks to Harveen for her contribution to the business over the last eighteen months," said Chair Pat Ridgwell. "She has played a key role in the turnaround, refinancing and reshaping of the group. We wish her well for all of her future endeavours."
Real Good Food reported a wider loss in the half year to the end of September last year, due to a poor performance in its Food Ingredients unit and the restructuring of the Cake Decoration division. The loss widened to GBP9.1 million from GBP3.4 million reported a year earlier, as it incurred a GBP6.3 million goodwill impairment charge in the Cake Decoration unit.
Real Good Food shares were up 3.1% on Wednesday at 6.70 pence.
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