Collins Foods, a franchisee of KFC and Taco Bell in Australia, has announced the appointment of Kevin Perkins as interim CEO.
The decision has been made as Drew O'Malley, the company's managing director and CEO, takes a three-month medical absence.
Perkins, who has more than four decades of experience with the company, steps into the role effective immediately.
Currently a non-executive director at Collins Foods, he has a long-standing history with the organisation.
Having retired as CEO in 2014, he has since served on the company's board. Perkins is also the largest shareholder of Collins Foods, holding 6.16% of the company's issued capital with 7,241,484 shares.
During his tenure as interim CEO, Perkins will not receive any incentives.
The term of his appointment is set for six months but can be terminated earlier by either party or extended by mutual agreement.
The interim change in leadership is aimed at providing continuity for Collins Foods as it navigates through this period of transition.
In May 2023, Collins Foods concluded the acquisition of eight KFC restaurants in the Netherlands from R Sambo Holding.
Collins Foods Netherlands Operations, a subsidiary of Collins Foods Dutch, executed the transaction.
The deal was first announced in February 2023, with the signing of a share purchase agreement to acquire eight KFC restaurants.
An initial payment of €8m ($8.78m) was made, subject to adjustments for net debt and working capital.
A further payment of €4.6m is linked to two potential earn-out payments based on the restaurant network's earnings before interest, taxes, depreciation and amortisation up the start of 2026.
Collins Foods managing director and CEO Drew O’Malley stated: “This acquisition is another step forward for Collins Foods’ European growth strategy.
“The eight restaurants we are acquiring in the Netherlands add another quality network of restaurants to our portfolio, as well as enhancing our people capability as we continue to grow and increase our operational scale in the Netherlands.”
