Collins Foods CEO resigns

A search for a new CEO is underway.

The operator of KFC and Taco Bell in Australia, Collins Foods has announced that Drew O’Malley has informed the Board of his intention to step down as Managing Director and CEO of the company effective 1 July.

Kevin Perkins will remain in the role of Interim Managing Director and CEO as the Board undertakes a local and international CEO search.

Below is the group’s full statement: 

Collins Foods Limited (ASX: CKF; “Collins Foods” or “the Company”) advises that Mr Drew O’Malley has informed the Board of his intention to step down as Managing Director and CEO of the Company, effective 1 July 2024. Mr Kevin Perkins will remain in the role of Interim Managing Director and CEO as the Board undertakes a local and international CEO search.

The Board granted Mr O’Malley an extended leave of absence in February 2024 to support his wife, Jola, and their family while Jola underwent treatment for serious illness. Tragically, Jola passed away in April, and Mr O’Malley has subsequently decided to step down to focus on his family. Non-executive Director Mr Perkins has been Interim Managing Director and CEO since 5 February 2024.

In announcing Mr O’Malley’s decision to leave the Company, Collins Foods’ Chairman, Robert Kaye SC, said: “The Board extends its deepest condolences to Drew and his family and thanks him for his very significant contribution to the Company over the past seven years.

“Drew led the business through the unprecedented Covid pandemic and has consistently delivered strong financial results during his time as CEO. His tenure has overseen a period of significant operational expansion in Australia and Europe, driving strong growth in shareholder returns. He leaves the Group in a strong financial and operational position, well-placed for future growth.

“On behalf of the Board and the entire Collins Foods team, we wish Drew all the best with his family and in his future endeavours.”

The Board will commence a global search for a new CEO to lead the Company’s next phase of growth and development. 

Kevin Perkins continues as Interim CEO

Former Collins Foods’ CEO, Kevin Perkins, will continue in the Interim Managing Director and CEO role whilst the Board undertakes the CEO search. Mr. Perkins has more than 40 years’ experience with Collins Foods and has been a Non- Executive Director of the Company since he retired as CEO in 2014. He is currently Collins Foods’ largest shareholder, holding 7,241,484 shares, or approximately 6.16% of the Company’s issued capital.