New Zealand’s a2 Milk Company said on Monday its CEO Jayne Hrdlicka had stepped down from the role she took on in July 2018.
Hrdlicka is also on the board of Australia’s Woolworths Group.
Commenting on her decision, Hrdlicka said the job was demanding more than anticipated travel requirements and it was becoming increasingly difficult for her to balance her work and family commitments.
The Auckland-based dairy company said that former CEO Geoffrey Babidge had accepted the role of interim CEO while the board searched for a replacement.
a2 Milk Co said separately it would start searching for a full-time chief executive immediately and hope to make an appointment before the end of 2020.
The dairy company also said that non-executive director Jesse Wu would assume a direct oversight role of the a2 China business in the interim.
The company also reaffirmed its outlook stated last month where it raised its operating profit margin forecast on the back of higher marketing spending.
a2 Milk’s shares have risen more than 36 per cent this year but have recorded monthly falls in three of the last four months.
Source: Thanks smh.com