Australia’s Freedom Foods Group has announced that CFO and company secretary Campbell Nicholas has resigned with immediate effect.

The news, announced today (23 June) in a statement to the Australian Securities Exchange (ASX), on which the company is listed, comes less than a month after Freedom Foods said it expects full-year profits to be “materially impacted” by the Covid-19 outbreak as the crisis hit sales in the out-of-home segment.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The free-from cereals and snacks manufacturer, which also supplies fresh milk and milk drinks and plant-based beverages, said Trevor Allen, who is a non-executive director of the company, has been appointed as company secretary with immediate effect. No announcement was made about the CFO role.

In its trading update on 29 May, Freedom Foods said it expected to incur an estimated writedown of AUD25m (US$16.6m at the prevailing exchange rate) on the carrying value of inventory linked to the consolidation of the company’s “external warehousing activities, together with a detailed review of product offerings and formats”.

And the business also revealed it had made “some redundancies” as a result of the “reshaping of its commercial and organisational structures to reflect the new operational footprint”, which is based around Freedom Foods’ focus on markets in Australia, China and south-east Asia.