,Australia

Retail Food Group chairman Colin Archer retires

Stephen Lonie will succeed him as the company's chairman.

Retail Food Group (RFG) has announced that Colin Archer will retire as the group's director and chairman of the board, after being with the company for over 10 years and serving as chairman for the last five.

Archer, who previously announced his intention to retire, said that it was "an appropriate time to step down" following the reporting requirements of FY18 have been concluded, allowing time for handover prior to the company’s 2018 annual general meeting.

Stephen Lonie, who has been an independent non-executive director of the company, will succeed Archer as chairman of RFG.

“Over the past six months, the Board has embarked on a renewal at both Executive and Board level, and I leave satisfied that the Company has the leadership to further develop and implement the turnaround strategies recently detailed in the Company’s FY18 financial statements. New Group CEO, Richard Hinson, in particular, has re-invigorated the Company with enthusiasm, commitment and his industry knowledge,” Archer said.

“Stephen Lonie is a highly respected and experienced Chairman who has been instrumental in developing and implementing the turnaround strategies adopted by RFG. He has a range of relevant professional, business and corporate governance experience including specialist expertise in the agribusiness/food, business and financial services industries.”

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