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- International fast-food conglomerate Collins Foods (CKF) has appointed Drew O’Malley as its new CEO
- From July 1, Drew will oversee operations across the brand’s KFC, Sizzler and Taco Bell restaurants
- He takes over from Graham Maxwell, who lead the group as its Managing Director and CEO for six years
- The new CEO will receive over $750,000 a year as part of his new salary package, including superannuation (but not benefits)
- Despite the announcement, Collins Foods shares are 0.24 per cent lower at market close, last trading for $8.20 per share
At one of the world’s largest fast-food conglomerates, there’s a new CEO in town.
From July 1, Drew O’Malley will become Collins Foods’ (CKF) new Chief Executive, overseeing operations across the brand’s KFC, Sizzler and Taco Bell restaurants.
“I’m both humbled and grateful for the opportunity to lead the next chapter in Collins Foods’ outstanding growth story,” Drew said of his new position in a statement today.
Drew isn’t new to the consumer ASX-lister; in 2017, he joined the board as a Chief Operating Officer. Since then, Collins Foods’ Chairman Robert Kaye says he’s been a “key member of the executive management team.”
He takes over from Graham Maxwell, who lead the group as its Managing Director and CEO for six years.
Today’s announcement follows one from CKF last year, when Graham first announced his intentions to resign from the company, sparking the hunt for a successor.
The new CEO will receive over $750,000 a year as part of his new salary package, including superannuation (but not benefits).
He is also eligible for some short and long term incentives, which are dependent on the group’s earnings before interest, tax, depreciation and amortisation (EBITDA) performance and guest experience survey results.
Collins Foods operates KFC restaurants across Australia, the Netherlands and Germany, as well as Sizzler franchises in Asia and down under. In the last few years, the company also began operating Taco Bell restaurants in Australia.
“Our ability to plan Drew’s succession into the CEO role and the strength of the working relationship between Drew and Graham has facilitated a smooth transition for him into the CEO role,” Chairman Robert Kaye continued.
“The board is confident that Drew will continue to build on the success the Company has enjoyed under Graham’s leadership and the growth platforms he has established,” he concluded.
Despite the announcement, Collins Foods shares are 0.24 per cent lower at market close, last trading for $8.20 per share.
