The finance boss of dessert maker Cake Box Holdings PLC (AIM:CBOX) is stepping down as the company appointed a chief operating officer in a move to further “professionalise” the business and announced that trading was in line with expectations.
Co-founder and chief financial officer Pardip Dass will leave his role at the end of this month, with David Forth taking over as interim CFO.
Richard Zivkovic has been appointed COO and will begin his position on 13 June.
The change follows controversy in January as the company admitted inconsistencies in its financial reporting, causing shares to plunge 22% at one point and initiating a price fall that only began to correct itself last week.
"We are delighted to welcome David, Richard and Chay to the Cake Box family, and look forward to working with them as we continue to evolve, improve and further professionalise the business, bringing in the experience and capabilities to fulfil our growth ambitions and build on the strong trading in the second half to date," said Neil Sachdev, non-executive chairman of Cake Box.
Forth was interim finance officer at AB Sugar and deputy CFO at Eddie Stobart Logistics among others, while Zivkovic joins from Island Poke where he is also COO.
The group still expects financial year 2022 performance to be in line with expectations after strong trading in the second half of the year, while BDO continues to assist as an internal auditor with strengthening Cake Box’s internal control framework.
Cake Box’s share price rose more than 42% last week. They climbed almost 10% to 217.50p in mid-morning trade.