Retail Food Group (ASX:RFG) has announced the departure of CEO Andre Nell.
In a board shake up at the food franchiser Nell has been replaced by his second in command, Richard Hinson.
Hinson will take on the role from today.
He brings almost 30 years of experience to the role and has held executive positions at Wrigley Pacific and Metcash Supermarket and Convenience.
The changes to management come after the company’s share price has fallen by more than 85 per cent over the last twelve months.
Earlier this year the company announced heavy write downs and store closures.
Shares in Retail Food Group (ASX:RFG) are trading 5.84 per cent higher to 82 cents.