June 30, 2020 / 1:29 AM / 8 days ago

Australia's Freedom Foods CEO Rory Macleod resigns

(Reuters) - Australia’s Freedom Foods Group (FNP.AX) said on Tuesday Chief Executive Rory Macleod had resigned, days after he went on leave and the cereal and snacks maker tapped advisers to probe its financial position.

The maker of Messy Monkey branded snacks had last week announced Macleod’s unexplained leave and said it would write down the value of its inventory and raise provisions for bad debts this year.

Macleod has resigned from all board and executive positions, Freedom Foods said in a statement without providing further details.

The company’s shares have been halted from trading since June 24 as it investigates its financial position further.

Reporting by Shashwat Awasthi in Bengaluru; Editing by Kim Coghill

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