Cake Box taps franchise veteran Michael Botha for CFO role

Fresh cream cake specialist Cake Box announced the appointment of Michael Botha as its new chief financial officer on Friday.

The AIM-traded firm said Botha was working his notice with his current employer, and would join Cake Box no later than 10 April next year.

David Forth, who was appointed as interim CFO on 14 March, would leave the group when his contract expires in November.

Martin Blair, chairman of the audit committee, would oversee the finance function until Botha joined the firm.

During the period, non-executive director Adam Batty would temporarily assume Blair’s responsibilities as chairman of the audit committee.

“We are delighted to have Michael joining the Cake Box Family to support our continued growth and future ambitions,” said non-executive chairman Neil Sachdev.

“He brings extensive experience in senior finance roles across a number of high profile franchise businesses, and has a strong track record of overseeing the implementation of internal systems and controls.

“Michael will further strengthen our executive team through his experience in franchisee-run corporates and good internal governance.”

Cake Box said Botha had worked in senior finance and commercial roles for a number of franchise businesses over the last 20 years.

He is currently chief financial officer for one of the largest franchise groups in the Domino's Pizza franchise system in the UK and Ireland, a role he has held since 2016.

Prior to that, Botha spent more than 12 years at Domino's Pizza Group as commercial director and group financial controller.

He qualified as a Chartered Accountant in 1993 with PwC.

It said it expected Botha would also join the board of Cake Box as an executive director at the time of his appointment.

commented:

“Cake Box has a strong financial position and brand with a highly attractive offering to customers, franchisees and shareholders,” said Michael Botha of his appointment.

“It has great growth prospects and I'm looking forward to joining the community of entrepreneurial franchisees and helping to make Cake Box a household name.”

At 0956 BST, shares in Cake Box Holdings were up 0.76% at 116.88p.

Reporting by Josh White at Sharecast.com.