MISSISSAUGA, Ont. -- Second Cup Ltd. (TSX:SCU) says its chief financial officer has decided to leave the company at the end of June, the second high-ranking executive departure announced by the coffee company this week.
Barbara Mallon's decision to leave follows an announcement by the company Wednesday that chief executive Alix Box was stepping down immediately.
Box, a former Holt Renfrew executive, was hired in early 2014 to lead a rejuvenation of the Canadian coffee chain.
Garry MacDonald, who joined the Second Cup board of directors earlier this year, was named interim chief executive.
Second Cup said Friday its first-quarter corporate revenue was down nearly 20 per cent from last year and sales by its retail network were down nearly three per cent.
But the company said its net loss of $475,000, or four cents per share, was smaller that the same time last year and it had positive adjusted earnings for the third quarter in a row.
