Cawley’s departure followed a number of disposals by the manufacturer over the past year, including its frozen desserts firm RGF Patisserie and jam business R&W Scott.
The company now comprises two autonomous business units – Brighter Foods and Renshaw – with their own separate strategies, lead by the managing director (MD) of each respective business unit.
Part time position
To reflect the significant change in operations for the business, the role of group chief executive is to become a part-time position to complement the strategic and operational focus of the MDs of the two business units, with a focus on the RGF’s head office functions and corporate governance.
Preparations to find an executive director to replace Cawley are already underway and a decision is expected to be made within the next few weeks, according to RGF. Mike Holt will temporarily become executive chairman of the group in the interim period.
Thanked for his contribution
Commenting on Cawley’s parting with the company, chairman Mike Holt said: “On behalf of the board, we would like to express our thanks to Hugh for his considerable contribution in stabilising the group, helping to improve corporate governance within the group and getting it focused on its two core businesses.
“The group is now fully engaged in growing Brighter Foods and regaining market share for Cake Decoration. We wish Hugh well for all his future endeavours.”
The announcement that Cawley is to leave the company has come less than two weeks after RGF secured an £8.87m credit facility to help repay part of its debt from Leumi ABL – a £5.45m receivables facility and a £1.3m term loan facility, each with a 60-month term, and a £2.12m plant and machinery facility on a 36-month term. .