CEO continues exodus at Oliver's food

Shares in Oliver's Real Food have jumped 9.5 per cent after the "healthy" fast food company's chief executive quit.

Shares in Oliver's have jumped 9.5 per cent after the "healthy" fast food company's chief executive quit.

Greg Madigan resigned after 10 months in the role, the company said in a statement to the ASX.

"The board thanks Greg for his contribution to the business and wishes him well for his future career and endeavours," Oliver's said, without giving any reason for his departure.

Mr Madigan's exit follows that of Oliver's chief financial officer and chairman within the past three months.

Oliver's downgraded its full-year earnings guidance in January after a capital raising shortfall and weaker holiday trading, prompting a 78 per cent share price fall over four daily sessions.

Oliver's shares, which hit 44 cents briefly after listing in mid-2017, hit an all-time low of 1.9 cents on Friday before rallying to 2.3 cents by 1520 AEDT.


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Source: AAP



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