CEO of Retail Food Group (RFG) – the parent company of café chain Gloria Jean’s – Matt Marshall has resigned after two years in the role.
Appointed as CEO in July 2023 following three years with the business, Marshall oversaw major transformation in the business during his tenure, including RFG’s divestment of Brumby’s Bakery.
RFG reported a $14.9 million net loss after tax for FY25, compared to a $5.8 million profit for the same period last year.
“Since joining RFG, I have been privileged to lead a dedicated team through a period of transformation,” says Matt. “We have redefined our culture to be purpose-led and have relentlessly focused on delivering quality improvements in all areas.
“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.”
Marshall has left the position two years into a five-year transformation plan, with Chairman Peter George to now take on CEO responsibilities effective immediately while the business conducts a “global search” for a new CEO.
Peter joined the RFG Board as a Director in September 2018 and was Executive Chairman with CEO responsibilities from November 2018 until Marshall’s appointment in July 2023.
He says, under Marshall’s tenure, RFG’s focus on its core brands including Gloria Jean’s was “sharpened”.
“The Board would like to thank Matt for his hard work and commitment to the company over the past five years, the last two as CEO – a period that saw steady improvement in underlying performance, as reflected in the recent FY25 results,” says George.
“Retail Food Group has made significant progress in that time, resolving legacy issues and sharpening its focus on core brands with the greatest growth potential – Gloria Jean’s, Donut King, Beefy’s Pies, Crust, and now Firehouse Subs.
“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 our franchise partners.”
RFG says the change in CEO has not changed the company’s outlook or priorities.
