Veritas CFO Adrienne Roberts resigns after a year and a half

Monday 19th October 2015

Veritas Investments, the food and beverage investor, said chief financial officer Adrienne Roberts has resigned, just a year and a half after being appointed to the role.

Auckland based Veritas appointed Roberts in May last year, saying she would provide additional skills and resource as the company strove for growth in its current business and as it worked through new acquisition opportunities. It said today she would resign after the company's annual meeting next month, and it had started searching for a replacement.

Veritas, formed in December 2011, bought the Mad Butcher franchisor business in May 2013 and took a half share in Kiwi Pacific Foods in December 2013. In August, the company posted a 23 percent decline in annual profit and cut its dividend as it wrestled with integrating its debt-funded acquisitions of Nosh Food Market in September 2014 and The Better Bar Company in November 2014.

Chairman Tim Cook thanked Roberts for her hard work and contribution to the group.

The company's shares last traded at 53 cents and are the fourth worst performer on the NZX Main Board so far this year, having declined 58 percent.

BusinessDesk.co.nz

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