ASX listed food company Freedom Foods entered into a trading halt on Wednesday, following the sudden departure of managing director and chief executive Rory Macleod.
Shares plunged on Wednesday after the announcement that Macleod, is “on leave” pending a company update which is expected to be made on or before Friday.
Perry Gunner has been appointed executive chairman, and commercial director Brendan Radford will be acting CEO of the business.
Radford is a former managing director of Rockstar Energy Drink in Australasia and has 18 years’ international FMCG experience.
The sudden departure of Macleod comes just a day after the resignation of the company’s chief financial officer and company secretary, Campbell Nicholas.
Trevor Allen, who is also a non-executive director of Freedom Foods has taken up the role of company secretary.
The Board has also appointed Stephanie Graham, group general manager corporate development, as acting chief financial officer, whilst “evaluating permanent appointment processes”.