Real Good Food chief financial officer Harveen Rai, who helped turn around the business, is to leave at the end of this month.
The company today (13 March) said it had mutually agreed with Rai that she will step down from the board and leave in two weeks’ time.
Real Good Food stated the move followed the recent streamlining of the company into two semi-autonomous business units – cake decorations supplier Renshaw and snack bar manufacturer Brighter Foods.
RGF chief executive Hugh Cawley, who is a chartered accountant, will take on financial officer duties on an interim basis, supported by group financial controller Nikki Lee, until a new group CFO is appointed.
“On behalf of the board, we would like to express our thanks to Harveen for her contribution to the business over the last 18 months,” said RGF chairman Pat Ridgwell. “She has played a key role in the turnaround, refinancing and reshaping of the group. We wish her well for all of her future endeavours.”
Rai, who was previously chief financial officer at Arzyta UK Holdings, joined RGF in 2017, during a troubled period that saw the departure of founder Pieter Totté and finance director David Newman.
The business consequently secured new funding and sold off divisions, including Haydens Bakery and Garrett Ingredients.
After announcing the sale of preserves business R&W Scott late last year, Cawley stated: “This disposal, alongside those of Haydens and Garretts, marks a significant milestone in the turnaround and performance improvement programme of Real Good Food.”
“We are now able to focus on the core continuing businesses, Brighter Foods and cake decoration, with no bank term loan and a fully funded growth plan.”