Retail Food Group chairman is retiring after five years with the company.

Bruce Hancox will retirement will take effect from 30 April 2013. The position will be succeeded by Queensland businessman Colin Archer who has served as an independent non-executive director of the company for the past seven years.

Hancox said after serving with the company it was an appropriate juncture to retire.

“In recent times other work commitments unrelated to RFG have increasingly required more time including engaging in extensive travel both domestically and abroad. Coupled with these developments has been a desire to devote more time to personal matters,” he said.

The Board expressed their gratitude towards Hancox for his contribution to the organisation.

Chairman elect Colin Archer indicated Hancox will leave RFG having laid a solid foundation for enhanced future growth.

Archer also noted that in order to ensure RFG remained appropriately structured, the company would evaluate to the appointment of an additional non-director and will keep the market updated on the process.