Australia’s Freedom Foods Group, which is conducting a review of its accounts as part of ongoing investigations into possible fraudulent activity, has appointed a new chief financial officer in the shape of Josée Lemoine.
She replaces Campbell Nicholas who quit as CFO at the end of June less than a month after the company issued a profit warning.
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Lemoine will take over on 16 November from Stephanie Graham who has been carrying out CFO duties on an acting basis.
She joins Freedom Foods from her most recent role as CFO of InvoCare. Amongst a number of senior finance roles, she has also worked for Arnott’s, the local snacks business owned by Campbell Soup Co. until last summer when it was sold to private-equity firm KKR.
Michael Perich, Freedom Foods’ interim CEO, who took on the role in August after the resignation of Rory Macleod, said of Lemoine: “She brings extensive experience as a CFO, in strategic finance and governance roles in ASX [Australian Securities Exchnage]-listed entities.”
Lemoine said: “I am pleased to be joining Freedom Foods Group during this transformational period in the company’s history and I look forward to contributing towards its next chapter.”
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By GlobalDataThe company, which produces free-from cereals and snacks, and also fresh milk, milk drinks and plant-based beverages, has been undertaking a review of its accounts since August.
At the end of June, the company said it had engaged professional firms Ashurst and PwC to assist with its internal investigation.
In a call with analysts on 25 June, the company said it was probing the possibility of fraudulent activity after booking fresh write-downs following the departure of Nicholas and Macleod.
The company has voluntarily halted trading in its shares until this month while the investigation continues.
