Roebuck Food Group plc announced hat Declan Morrissey will step down from his position as Group Chief Executive on 6 July 2023. Mr. Morrissey joined the Company in 2017 as head of the Dairy Division. Mr. Morrissey will receive payment in lieu of one year's notice under his service agreement of €100,000 (being equivalent to one year's base salary).

Mr. Morrissey will be replaced as Group Chief Executive by Kieran Mahon, who rejoined Roebuck as non-executive director on 14 April 2023. Mr. Mahon will be employed by the Company at a salary of €150,000 per annum on a rolling one-year contract. As Kieran Mahon is a non-executive director and substantial shareholder of the Company the entering into the service contract with the Company constitutes a related party transaction.

The directors of the Company excluding Kieran Mahon having consulted with its nominated adviser Davy consider that the terms of the transaction are fair and reasonable insofar as shareholders are concerned.