Join our daily newsletter At The Bell to receive exclusive market insights
- Restaurant Brands New Zealand (RBD) announces its group CEO and group its CFO will both retire in 2023
- CEO Russel Creedy will retire on March 31 next year after 22 years at Restaurant Brands, and CFO Grant Ellis will retire at the end of May after joining the company in 1997
- Company Chair José Parés attributed much of Restaurant Brands’ growth since listing in 1997 to Mr Creedy and Mr Ellis’ leadership and contributions
- After retiring, Mr Ellis will serve as an advisor to the RBD Chair and new CFO, and Mr Creedy will serve as a special advisor to the company’s majority shareholder
- RBD shares last traded at $12.40 each on September 1
Restaurant Brands New Zealand (RBD) has announced that its group CEO and its group chief financial officer (CFO) will both be retiring in 2023.
CEO Russel Creedy will retire on March 31, 2023, and CFO Grant Ellis will retire from the company on May 31, 2023.
Mr Creedy joined the company in 2001 as a supply chain manager before becoming General Manager for Pizza Hut in New Zealand three years later. He was then appointed CEO in 2007.
Mr Ellis has been Restaurant Brands’ CFO since 1997, with responsibilities in the finance, treasury, investor relations and company secretarial functions.
“It is with a sense of sadness and great appreciation for their long history with our company that I received the news that both Russel and Grant have decided to retire from Restaurant Brands,” Chairman José Parés said.
“In addition to their many accomplishments over more than 20 years with the company, most recently Mr Creedy and Mr Ellis played a key role in RBD’s milestone of achieving more than one billion New Zealand dollars in sales for 2021,” Mr Parés added.
Following Mr Ellis’ retirement, he’ll serve as an advisor to the RBD Chair and new CFO, and Mr Creedy will serve as a special advisor to Finaccess Capital and Subsidiaries, which is RBD’s largest shareholder.
The Restaurant Brands board will now commence a search process for both positions.
RBD shares last traded at $12.40 each on September 1.
