Second Cup CFO to leave, follows exit of CEO

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Alix Box red CEO job earlier this week

The Canadian Press Posted: May 12, 2017 10:40 AM ET Ultimate Updated: May 12, 2017 10:40 AM ET

Second Cup Ltd. says its chief financial officer has undisputed to leave the company at the end of June, the second high-ranking executive departure averred by the coffee company this week.

Barbara Mallon’s decision to renounce follows an announcement by the company Wednesday that chief executive Alix Box was progress b increasing down immediately.

Box, a former Holt Renfrew executive, was hired in initial 2014 to lead a rejuvenation of the Canadian coffee chain.

Garry MacDonald, who adjoined the Second Cup board of directors earlier this year, was named interim chief CEO.

Second Cup said Friday its first-quarter corporate revenue was down hardly 20 per cent from last year and sales by its retail network were down barely three per cent.

But the company said its net loss of $475,000, or four cents per share, was lesser that the same time last year and it had positive adjusted earnings for the third fourth in a row.

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