Fairfax hires Lorna Raine as CFO of Metro Media
Fairfax’s Metro Media division has appointed a new chief financial officer. Lorna Raine from Yum! Restaurants will assume the position.
The announcement:
August 15, 2011: Fairfax Metro Media Chief Executive Officer, Jack Matthews today announced the appointment of Lorna Raine to the newly-created position of Chief Financial Officer, Metro Media.
Raine joins Fairfax Media from Yum! Restaurants, where she has been General Manager of Operations for the company’s KFC division since 2009. She will take up her new post on September 5.
“I am very pleased to welcome Lorna to Fairfax Media. Lorna brings strong expertise in three critical areas for Fairfax: financial management, operations and strategy,” Jack Matthews said.
“All of these will be vital to the effective execution of our strategy, and I know she will make an immediate and important contribution.”
Commenting on her appointment, Raine said: “I’m delighted to be joining Fairfax Media. It is one of the world’s truly great media companies and I am looking forward to the tremendous opportunities and challenges that lie ahead.”
As General Manager of Operations at KFC, Raine has been responsible for over 700 stores across Australia and New Zealand, which generate revenues of approximately $1.5 billion.
Raine’s previous roles at Yum! Restaurants include Strategic Planning Director and CFO Australia.
Before emigrating to Australia from South Africa in 2002, Raine was Chief Financial Officer of McDonald’s in that country, during a period in which the restaurant chain underwent rapid expansion in South Africa.
