Announcement PDF Retail Food Group Limited Level 4, 35 Robina Town Centre Drive Robina Qld 4226 20 August 2025 FY25 Annual Report Please find enclosed for release to the market Retail Food Group Limited’s FY25 Annual Report. This announcement has been authorised for release by the Board of Directors. Investor Enquiries: Robert Shore, CFO 0401 229528 Robert.Shore@rfg.com.au About Retail Food Group Limited: RFG is a global food and beverage company headquartered in Queensland. It is Australia’s largest multi-brand retail food franchise manager and is the owner of iconic brands including Gloria Jean’s, Donut King, Brumby’s Bakery, Crust Gourmet Pizza and Beefy’s Pies. The Company holds the exclusive licence to grow Firehouse Subs restaurants in Australia and expects to open the first restaurant in mid FY26. RFG distributes high quality pies from our Sunshine Coast Bakery and coffee through our Sydney Roastery. For more information about RFG visit: www.rfg.com.au 2025 ANNUAL REPORT A YEAR OF STRIVING FOR A POSITIVE CUSTOMER EXPERIENCE IN EVERYTHING WE DO investors@rfg.com.au www.rfg.com.au ABOUT RETAIL FOOD GROUP Retail Food Group is a global food and beverage company headquartered in Queensland, Australia. RFG is Australia’s largest multi-brand retail food and beverage franchise owner with a portfolio of quality franchise brands under its ownership. RFG has the rights to develop the Firehouse Subs brand in Australia. 30 Countries 6 Core Brands >55m >500m Consumer Transactions Domestic Network Sales 7000 c.1250 Estimated Domestic Network Employees II Global Trading Outlets ANNUAL REPORT CONTENTS About Retail Food Group II Key Results Highlights IV Key Takeaways V Chairman’s Letter VI 2025 ANNUAL REPORT Chief Executive Officer’s Report VIII This 2025 Retail Food Group Limited Annual Report Our Strategy X for the financial year ended 27 June 2025 complies FY25 Brand Highlights XII Executive Leadership Team XVI with reporting requirements and contains statutory financial statements. This document is not a concise report prepared under section 314(2) of the Corporate Directory 1 Corporations Act. Director’s Report 7 Remuneration Report 18 Financial Statements 40 Director’s Declaration 103 104 can be found on the Group’s website: Independent Auditor’s Report to the Members of Retail Food Group Limited https://investorhub.rfg.com.au/governance Additional Stock Exchange Information 114 2025 CORPORATE GOVERNANCE STATEMENT The 2025 Corporate Governance Statement ANNUAL REPORT III KEY RESULTS HIGHLIGHTS c.1250 Global Outlets $505.4m Underlying Net Outlet Growth of 133 Domestic Network Sales up 0.3% 93 $102.7m $12.91 $29.6m New Physical Locations Added in The Year Average Transaction Value up 3.9% on PCP Underlying Revenue1 up 13.6% on PCP Underlying EBITDA2 up 1.7% on PCP Underlying Revenue is a non-IFRS measure not subject to audit. Underlying Revenue excludes restricted domestic marketing fund revenues and revenues from the company stores which will transition to franchise partner ownership or close. 1 Underlying EBITDA is a non-IFRS measure not subject to audit. Underlying EBITDA excludes non-recurring, non-core costs of legacy legal matters, acquisition costs, restructuring costs and non-cash impairments and is inclusive of AASB15 and AASB16. 2 Global outlets excluding acquired outlets. 3 IV ANNUAL REPORT KEY TAKEAWAYS Profitable Growth, Disciplined Execution • Network sales growth of 0.3% on PCP • Cafe, Coffee, Bakery Network sales growth of 2.0% • Underlying Revenue1 growth of 13.6% • Underlying EBITDA2 growth of 1.7% on PCP • Beefy’s Pies contributed $3.4M in EBITDA, in its first full year of ownership Customer-First Brands, Building for Scale • Continued growth of Beefy’s Pies and development of Donut King, Gloria Jean’s and Crust including diversifying our offering across formats, dayparts and ecommerce. • Launch of Firehouse Subs in Australia on schedule for FY26; a strategic, globally respected QSR brand with a significant growth opportunity in the Australian market. • Enhancing our extensive international master franchise network alongside growth in select markets to increase our global brand presence and broaden our revenue base. Smarter Tech, Stronger Franchise Support • Deployment of data-driven platforms for franchisee performance tracking and customer engagement. • Network Sales from digital are up +2.1% on FY24, with strong growth being driven by CCB channel (+51.8%) as we launched new apps and online platform Donut King occasions. • Reinstated Franchise Partner seminars to enhance Franchise Partner support and stability. ANNUAL REPORT V PETER GEORGE Chairman of the Board CHAIRMAN’S LETTER VI ANNUAL REPORT During FY25 Retail Food Group maintained a steadfast focus on Additionally, during the year we assessed Brumby’s Bakery our strategy to enhance our core brands and grow our network. against our strategic pillars. While it has long been a valued A solid underlying EBITDA performance of $29.6m, up 1.7% on element of our brand portfolio, we determined that Brumby’s is FY24, and the achievement of various milestones during the no longer a key growth driver having regard to the other levers year, keep us on track in our pursuit of long-term sustainable now at our disposal, including Firehouse Subs, Beefy’s Pies and growth for all stakeholders. international expansion. The Group is exploring opportunities These milestones include our agreement with Restaurant Brands International (RBI), cemented after a rigorous 12+ months due diligence process, to introduce its fast-growing Firehouse Subs to divest Brumby’s and has recognised non-cash impairment charges of $12.2m relating to the Brand Assets and Goodwill in FY25. sandwich concept to Australia. A clear market opportunity We also recognised a constraint to our international growth exists within the domestic fast-food sandwich category and our has been complexity and inefficiency in our global supply chain. ambition is to launch at least 165 Firehouse Subs restaurants The establishment of a new roasting, supply and support hub over the next decade the first of which is to open later this year. in Turkey is expected to realise cost savings, improve order Bringing global scale, a successful brand, proven systems and new market entry expertise, we couldn’t have asked for a better partner than RBI and I’d like to thank it for entrusting us with Firehouse Subs in the Australian market. During the year we also acquired CIBO Espresso to accelerate our growth in South Australia with a network of outlets in prime CBD locations, and disposed of non-core assets relating to Cafe 2U and the The Coffee Guy in Europe and New Zealand respectively, releasing $1.0m of capital to support our core growth activities. Both domestically and internationally we have a clear strategy to focus on growth brands where we can deliver greater returns on our investment. This has led to an FY25 strategic reset of our corporately operated stores in our Gloria Jean’s, Donut King, Crust Gourmet Pizza and Brumby’s Bakery brands to either sell outlets to franchise partners or exit the site. This will enable us to recycle capital into growth brands which require corporate support including Beefy’s Pies and Firehouse Subs. We will retain one Gloria Jeans and Donut King outlet each as our corporate stores team focusses on Beefy’s Pies and Firehouse Subs. A one time restructuring charge of $15.7m has been included in the lead-times, mature our supply-side capabilities and enhance our Master Franchise Partner capability and experience. This initiative is anticipated to unlock opportunities for our partners expansion in both existing and new markets. Importantly, our energies have also been focused on our people, with the implementation of various initiatives to enhance our employee value proposition and better retain and attract a motivated team invested in our values-driven culture and aligned to our enhance and grow strategy. To summarise, during FY25 we added new levers for growth while also strengthening the foundations of our underlying business. When coupled with a motivated and highly capable management team and an experienced Board invested in RFG’s future success, RFG enjoys a firm platform upon which to pursue long-term consistent and sustainable growth for its stakeholders. In closing, I’d like to recognise our appreciation for the efforts of our Franchise Partners, Master Franchise Partners and team who work tirelessly to ensure our customers across the world receive an exceptional experience. Lastly, on behalf of the Board I would also like to thank you, our shareholders, for your ongoing support of the Company and its vision to be the most accessible, easy to operate, and admired retail brand network. statutory results for the write off and impairment of property, plant & equipment, onerous lease provisions and redundancy Yours sincerely, and other associated provisions. In FY25 we have recognised the restructuring provisions for sites without an agreed sale in place at the balance date, notwithstanding that we will continue to investigate opportunities to sell the sites as a priority. Peter George Chairman of the Board ANNUAL REPORT VII CHIEF EXECUTIVE OFFICER’S REPORT FY25 marked the delivery of consecutive years of growth as we continued to focus on the needs of our customers, engagement with our Franchise Partners and execution of our ‘Enhance and Grow’ strategy Matthew Marshall In FY25, Retail Food Group delivered a solid performance, (‘Brumby’s’) business and are shifting the focus of our company achieving key milestones that reflect our commitment to simplify store operations towards Beefy’s Pies and Firehouse Subs to our business and deliver growth under our ‘Enhance and Grow’ support their rapid expansion. strategic framework. The broader Australian retail landscape faced considerable volatility, with consumer confidence in the third quarter particularly affected by macroeconomic uncertainty, INVESTING IN OUR PEOPLE AND BUILDING CAPABILITY including the Federal Election, rising interest rates, and a downturn During FY25, we continued to refresh our leadership team to in discretionary consumer spending. RFG demonstrated ongoing sharpen the focus on our customer led approach and the quality resilience, driven by our disciplined focus on brand enhancement of our brand execution plans. We promoted long serving team and the successful execution of our customer-led strategy. members and industry experts Dan Bailey and Julie Woodall to Strong momentum in Q4, alongside the benefits of improving lead our Franchise Recruitment and Leasing Divisions respectively, consumer confidence drove strategic alignment between our strengthening our network development capabilities. In addition, Operations, Marketing, and core retailing disciplines. The ongoing Bree Coleman was appointed Chief Operating Officer, bringing success of Beefy’s Pies (‘Beefy’s’), including the delivery of new extensive experience in multi-brand operations, supply chain stores, and progress toward the launch of Firehouse Subs in optimisation and franchise systems. Bree’s appointment is Australia are further strengthening our portfolio of brands. already enhancing cross-functional synergies across operations, Complementing these efforts, our continued investment in digital procurement, and supply chain. Emma Stehlin was also promoted infrastructure, as a recognition of the way our customers expect to this year, joining the leadership team to steer our Procurement engage with our brands, to unlock new revenue opportunities for function as we continue to focus on buying better for our network. our Franchise Partners. Notably, we have announced, the rollout In FY25, we proactively sought feedback from our people of our Voice of Customer platform, which will drive stronger and laid the foundations for a connnected and engaged team, customer engagement, streamlined operations, and improved aligned to our strategy for growth. We refreshed our Employee execution standards across the network. Value Proposition, rolled out inclusive and flexible workplace Our strategy remains focused on simplifying the business, whilst effectively managing the deployment of capital and available resources to maximise returns for all stakeholders. Based on a review of our strategic growth pillars, we have announced that we are exploring options for the sale of the Brumby’s Bakery VIII policies, and launched initiatives to foster trust and belonging. 84% of employees participated in our recent company-wide engagement survey and insights from this led to tangible actions in communication, recognition, wellness, and development, shaping a values-driven culture and guiding our people strategy into FY26. ANNUAL REPORT FINANCIAL PERFORMANCE During the year, RFG continued to execute growth opportunities whilst enhancing our established global network. We delivered Underlying Revenue growth of 13.6% on FY24 which includes both the full year impact of our Beefy’s Pies acquisition in December 2023 and its rapid growth in the year. Underlying EBITDA of $29.6m is up 1.7% on the prior year due to a strengthening with brand investments informed by customer insights, targeted store-level network planning. Our strategic push into the ultraconvenience channel, coupled with enhanced support for our field teams and Franchise Partners, has helped lift in-store consistency and operational discipline. These efforts are translating into improved customer experience, stronger unit-level economics, and greater momentum as we enter FY26. domestic franchise network in our core brands, an increased contribution from our international network and continued disciplined management of costs. During the year the Group committed to a strategic reset of our corporately operated stores in our Gloria Jean’s, Donut King, Crust Gourmet Pizza and Brumby’s brands to either sell outlets to franchise partners or exit the site. This will enable RFG to return stores to franchise ownership wherever appropriate to do so and recycle capital into growth brands which require corporate support including Beefy’s and Firehouse Subs. The trading results of those stores were excluded from the underlying results for FY25 and a one time restructuring charge of $15.7m has been included in the statutory results. The Group will retain one Gloria Jeans outlet and one Donut King as the Group corporate stores team focuses on Beefy’s Pies and Firehouse Subs. As noted above, the Group is exploring opportunities to divest Brumby’s and has recognised non-cash impairment charges of $12.2m relating to the Brand Assets and Goodwill in FY25. SUSTAINABILITY AND CORPORATE RESPONSBILITY Retail Food Group remains committed to supporting the communities we serve and operating responsibly across our network. In FY25, we took meaningful steps toward reducing food waste by partnering with Too Good To Go to run trials in our corporately owned stores, and several franchised stores. Throughout the trial, we successfully saved 10,386 meals, avoiding 27,610 kg in CO2 emissions. 40% of surveyed customers were new to our brands, and we achieved strong customer satisfaction ratings across our Donut King, Brumby’s and Beefy’s stores in the trial, and achieved a customer satisfaction rating of 4.81 (out of 5), well above the category average. Additionally, we proudly continued our partnership with the Give Me 5 kids charity campaign in partnership with 97.3FM on the Sunshine Coast as part of Beefy’s ‘Steak vs Steak’ campaign, as well as MS Queensland, sponsoring their Brissie to the Bay charity ride. Our team actively participated in the event, alongside fundraising efforts and product sales from Beefy’s, Donut King, and Gloria CONTINUING TO BUILD A HEALTHY NETWORK Jean’s, all contributing to the cause on the day. In FY25, we continued to strengthen the quality and performance of our franchise network with: • The launch of 37 new domestic outlets that outperformed core brand closures • Insight-led innovation process leading to 81 new products launched • Investment in technology to unlock growth in digital sales channels • Structured franchise engagement aimed at strengthening partnerships • Announcement of a strategic brand reset for Gloria Jean’s LOOKING AHEAD Looking ahead, we are optimistic about the opportunities for RFG in FY26 and beyond, with a strong portfolio of brands that have growth potential both domestically and internationally. Our ‘Enhance and Grow’ strategic framework outlines our customer centric approach, underpinned by a clear investment framework and a dedicated, capable team who continue to support our Franchise Partners. On behalf of the entire management team, I extend our sincere thanks to our Franchise Partners, support office and retail teams, suppliers, and shareholders for their continued Pleasingly, we delivered a strong same-store sales (SSS) result dedication, partnership, and belief in our vision. Your contribution in Q4, reflecting early momentum from our refreshed brand has been integral to our progress, and we look forward to building strategies and focused retail execution discipline. We have signed on this momentum together as we drive sustainable, profitable 4 of our high performing operators to our Multi-Site Operator growth for all stakeholders. (MSO) Program, securing a pipeline of 20 outlets over the next 3 years. 5 of these sites were delivered in FY25, helping to lift overall network quality. Digital sales channels also grew year-onyear (+2.1% on FY24), validating ongoing investment in platform enhancements, increased focus on ultra convenience, and loyalty Matthew Marshall initiatives. Importantly, our strategy is now clearly coming to life, Chief Executive Office ANNUAL REPORT IX OUR STRATEGY X ANNUAL REPORT At the heart of our company is a clear purpose to strive for a positive customer experience in everything that we do. Our vision statement to be the most accessible, easy to operate, and admired retail brand network provides us with a framework to guide our portfolio investment choices across our platform of brands, including; a clear customer opportunity, ability to scale the network, simple franchise operations, low capital investment per outlet and leverage of vertical integration synergies. We are guided by our values that shape our decisions and culture - act with integrity, stand taller together, make it easier, make it happen and own it. These values are the foundation of how we do business and how we support our Franchise Partners, customers and team members everyday. Our business strategy is built around a focused ‘Enhance and Grow’ framework that clearly outlines our roadmap for growth. We are enhancing the core by investing in our people and systems, understanding our customer to develop new concepts and ideas, establishing closer partnerships with our Franchise Partners and are focused on driving the quality of performance for a healthy network. At the same time, we have clear priorities to grow Beefy’s, introduce Firehouse Subs to the Australian market and expand our International brand presence. This dual approach enables us to drive sustainable performance, unlock new growth opportunities and create long term value for all stakeholders. ANNUAL REPORT XI FY25 BRAND HIGHLIGHTS Gloria Jean’s Brand Reset: A Glorious Comeback Reinvigorating and repositioning in the café beverages category In FY25, we commenced a strategic brand reset for our Gloria Jean’s brand, aimed at re-energising the customer experience and strengthening brand relevance in a highly competitive café market. In partnership with a leading retail and brand design agency, we are developing a contemporary new store format that blends modern design aesthetics with Gloria Jean’s coffee heritage. This collaboration brings deep expertise in customer-led design, delivering a store experience that is more inviting, intuitive, and aligned with evolving consumer expectations. The brand reset is a key pillar in our broader strategy to modernise and drive long-term, sustainable growth, both in Australia and internationally. We will be converting our seven corporately owned CIBO Espresso stores to the new Gloria Jean’s concept store in H1 FY26, and, with our franchise partners, are aiming to complete more than 50% of the network in FY26. We will strengthen the brand’s market position, to deliver a renewed customer experience and establish Gloria Jean’s as a modern, forwardthinking leader in the world of beverages. XII ANNUAL REPORT Elevating the Donut King Offer to Drive Customer Growth Insight-led innovation will drive customer growth The launch of the new Donut King Premium Range in FY25 marked a milestone in the brand’s evolution, underpinned by rich consumer insights and a focus on elevating product quality and relevance. Designed to meet evolving customer expectations, the range has already helped drive improved customer traffic in Q4 and delivering encouraging improvements in brand awareness and health metrics. In Q4, we also reinvigorated our Hot Dogs portfolio with refreshed recipes and a sharper product offering, delivering a 116.7% uplift in category sales in the first four weeks of activity. This new range has significantly strengthened our lunchtime offer, particularly in ultra-convenience channels, supported by value-led deals tailored for third-party aggregator (‘3PA’) platforms. Importantly, the lunch refresh has also enhanced our competitiveness in off-premise, food court, and broader lunch occasions, where customer traffic continues to grow. These initiatives highlight the power of insight-led product innovation and position the brand for renewed relevance and sustainable growth. ANNUAL REPORT XIII Momentum Builds for Beefy’s Pies New stores, strong customer demand, and a clear pipeline support long-term growth ambitions Beefy’s continued to build strong momentum in FY25, with the successful launch of three new outlets, with two new stores in Brisbane and one in Toowoomba. With another three outlets scheduled to open in early FY26, we remain firmly on track to achieve our target of 50 stores within three years. This growth reflects the brand’s rising popularity, scalable model, and strong consumer demand for highquality, convenient food options. In parallel with our physical expansion, Beefy’s is focused on deepening customer engagement through increased accessibility and value. In FY25, we commenced trials of extended trading hours in select high-traffic locations to capture the growing dinner occasion. Early results have been encouraging, with positive feedback and incremental sales. Additionally, a stronger push through 3PA platforms has driven increased visibility and order volume, supported by compelling value deals tailored to digital customers. Digital sales now make up over 2% of Beefy’s sales transactions and these continue to grow. XIV ANNUAL REPORT Customer-Led Improvements Driving Momentum for Crust Independent research from Fonto identifies Crust as the QSR leader in customer satisfaction, validating our focus on menu and operational enhancements. In a competitive QSR landscape increasingly shaped by health-conscious consumers and elevated service expectations, Crust has sharpened its focus on listening to customers and acting decisively on their feedback. Throughout FY25, we implemented targeted menu enhancements, including the launch of Piadinas to open up the lunch occasion, high protein bases, new sides, and the successful Meat Deluxe LTO range, along with operational improvements informed by insights gathered through our customer research. This customercentric approach has translated into measurable results that were validated by Fonto, an independent customer experience research firm that benchmarks over 100 Australian brands across food and retail. In Q4, Fonto reported that Crust had the most satisfied customers in the entire QSR sector, outperforming established category leaders. This validation has helped fuel stronger momentum for the brand in the final quarter of the year, delivering network sales growth of 5.5%. ANNUAL REPORT XV Julie Woodall Matt Marshall Khloe Caneris Network Development Manager Property Chief Executive Officer Head of People and Culture EXECUTIVE LEADERSHIP TEAM XVI Jason Lyons Adam Bailey Rob Shore General Manager Operations, Beefy’s Pies Chief Information Officer Chief Financial Officer ANNUAL REPORT Tanya Watt Ryan Chellingworth Mark Connors Chief Marketing Officer Deputy Chief Financial Officer Director of Corporate Services and Company Secretary Bree Coleman Emma Stehlin Daniel Bailey Chief Operating Officer GM Procurement and Supply Chain Head of Franchise Recruitment ANNUAL REPORT XVII CORPORATE DIRECTORY 1 ANNUAL REPORT Directors Peter George Non-Executive Chairman David Grant Independent Non-Executive Director Kerry Ryan Independent Non-Executive Director Michael Bulley Non-Executive Director Jacinta Caithness Independent Non-Executive Director Company Secretary Anthony Mark Connors Registered Office Level 11, 2 Corporate Court Principal Place of Business Level 4, 35 Robina Town Centre Drive Share Register Bundall QLD 4217 Robina QLD 4226 Level 11, 2 Corporate Court Bundall QLD 4217 Arnold Bloch Leibler Solicitors Level 21, 333 Collins Street Melbourne VIC 3000 KPMG Auditors Heritage Lanes, Level 11, 80 Ann Street Brisbane QLD 4000 Commonwealth Bank of Australia Bankers Level 8, Commonwealth Bank Place South 11 Harbour Street Sydney NSW 2000 ANNUAL REPORT Stock Exchange Listing Retail Food Group Limited (ASX: RFG) shares are listed on the Australian Securities Exchange Website Address www.rfg.com.au 2 DIRECTOR’S REPORT Information about the Directors The Directors of Retail Food Group Limited (‘RFG’, ‘Group’ or ‘Company’) present the Annual Report of the Company for the financial year ended 27 June 2025 in accordance with the provisions of the Corporations Act 2001. Information about the Directors Mr George joined the Board of RFG as a Non-Executive Director on 25 September 2018. He was appointed Executive Chairman on 7 November 2018, and subsequently assumed CEO responsibilities on 3 December 2018. On 1 July 2023, CEO duties were relinquished upon the appointment of Matthew Marshall as CEO. Effective 1 July 2024, Mr George transitioned from Executive Chairman to Non-Executive Chairman of RFG. Mr George has had a successful 30-year career as a senior executive and non-executive Director, including extensive professional experience of corporate turnarounds. Mr George was recruited to the Board as a turnaround specialist and has previously led the restructuring and merger of PMP Limited as Managing Director from 2012-2017. Mr George served as Executive Chairman of Nylex Limited from 2004 – 2008, and Managing Director of B Digital Limited from 2004-2006. Mr George was also a Non-Executive Director and Chair of the Audit and Risk Committee of Isentia Group Limited (between April and Peter George Non-Executive Chairman Bachelor of Commerce/Bachelor of Laws 3 September 2021) and Asciano Limited (from 2007-2016), and a Non-Executive Director of Optus Communications from 1994 – 1998. He also served as Chairman of Booktopia Group Limited. ANNUAL REPORT Mr Grant was appointed a Non-Executive Director on 25 September 2018. He is an experienced public company director with a broad financial and commercial resume. He is currently a Non-Executive Director of EVT Limited (formerly Event Hospitality and Entertainment Limited). Former directorships include The Reject Shop Limited, A2B Australia Limited, iiNet Limited, Consolidated Rutile Limited and Murray Goulburn Cooperative Limited (including its associated listed unit trust). Mr Grant has deep experience chairing key board subcommittees, especially in relation to audit and risk, and assumed chairmanship of RFG’s Audit & Risk Management Committee contemporaneously with his appointment to the Board. He is also Chairman of RFG’s Nominations & Remuneration Committee. Mr Grant’s executive career included extensive food industry experience through a range of accounting, finance and commercial roles with Goodman Fielder Limited, including the position of Group M&A Director. He was David Grant also Chief Financial Officer of Iluka Resources Limited. Independent Non-Executive Director Bachelor of Commerce (Accounting, Finance & Systems) Graduate of the Australian Institute of Company Directors and a member of Chartered Accountants Australia & New Zealand Ms Ryan was appointed to the Board on 27 August 2015. She is an experienced nonexecutive director and committee chair spanning commercial, government and not-forprofit sectors and a diverse range of industries, with a focus on consumer organisations. Ms Ryan has over 20 years’ experience as a commercial lawyer in Australia and Asia, including as the recipient of an Austrade Business Fellowship to Indonesia. She is a former corporate and commercial partner at international law firm, Norton Rose Fulbright, where she worked predominantly in the consumer markets area and with many wellknown retail food and beverage brands. Ms Ryan’s current roles include Independent Chair of Go-To Enterprise Holdings Pty Ltd, Non-Executive Director of A.G Coombs Group Pty Ltd, Vice President and Non-Executive Director of Kids First Australia and Independent Member of the Parliament of Victoria Audit and Risk Committee. Previous board roles include Richmond Football Club, CPA Australia, Aligned Leisure (a subsidiary Kerry Ryan Independent Non-Executive Director Bachelor of Laws, Bachelor of Arts, Fellow of the Australian Institute