Pie Face co-founder pushed out

Posted by AFN Staff Writers on 16th February 2015
Pie Face co-founder pushed out
Pie Face co-founder pushed out

Australian pie franchise Pie Face has pushed its co-founder Wayne Homschek from the board of the Company, less than two months after the Company emerged from voluntary administration.

Australian Food News reported in January 2015 that Pie Face had made a comeback from voluntary administration, with the appointment of a new CEO and the signing of a Deed of Company Arrangement. As part of the Arrangement, the new board of Pie Face appointed Kevin Waite as Group CEO, and it was agreed that former CEO Mr Homschek would remain on the board as a non-executive director.

However, it has been reported that Mr Homschek resigned from his position “with some encouragement” from shareholders during an extraordinary general meeting last Wednesday. The resignation means Mr Homschek no longer sits on the board of any of the Pie Face group companies, although he and his wife Betty Fong, with whom he co-founded the Company in 2003, remain shareholders.

It has been reported that Mr Homschek has relocated to the US and has been “pursuing other business interests” there for some time.

In January 2015, the Company said the focus going forward would be to “revitalise the brand” through a heightened focus on franchisee profitability, seeking significant increases in wholesale production, and growing the brand’s international representation.

The Company has said that while Pie Face’s sales had been “flat year-on-year” since the business has got back on its feet, it was confident some changes to the management team, along with a revamp of the chain’s menu, will make a difference.