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Cake decorations and food ingredients supplier Real Good Food said chief executive Hugh Cawley would stand down with immediate effect and leave the company at the end of September.
The company said it expected the CEO role to be part-time in future, given that it now comprised two autonomous business units, each with their own managing director.
'The search for an executive director to replace Hugh is well advanced, and is expected to be made within a few weeks,' it added.
Mike Holt would temporarily become executive chairman in the meantime.