Shares in vitamins and supplements retailer Blackmores Ltd (ASX: BKL) have started the session poorly and are currently trading over 3% down at $90.32.
Whilst there’s been no price-sensitive information released by the company today, it did announce a transition of its CFO to be completed in February 2022. Here are the details.
What did Blackmores announce?
Blackmores advised that its current CFO, Gunther Burghardt, is leaving the company to pursue personal interests. Gunther will leave in late February 2022 following the release of Blackmores’ half year results.
Burghardt commenced with Blackmores in January 2020, and has played an “instrumental role in stabilising and helping get the transformation and strategic plan for sustainable growth underway”.
The company also advised that one Patrick Gibson to assume the CFO role from Burghardt next year. Gibson is a “proven CFO and business leader” and comes with a 30-year career in finance and over 20-years of consumer products sector experience in Europe, the Middle East, and Africa, per the release.
Prior to working at GWA, Gibson was CFO at Goodman Fielder and held senior roles at Brambles Limited (ASX: BXB) and Unilever.
Speaking on the announcement, Blackmores Chief Executive Officer, Alastair Symington said:
Gunther has been a valuable contributor to the Executive Team and a trusted leader within the organisation over the past two years. On behalf of the Board, we sincerely thank Gunther for his significant contribution to Blackmores and wish him and his family the very best for the future. It is always important to have succession planning underway and we are very pleased to welcome Patrick Gibson to the role of Chief Financial Officer.
Symington continued:
Patrick has an outstanding track record of delivering significant business improvements and long-term shareholder return. His extensive ASX-listed finance, operational and commercial experience will be an asset to our Executive Team, and we look forward to continuing the work already underway to grow Blackmores.
Blackmores share price summary
The Blackmores share price has gained 12% in the past 12 months after rallying 19% this year to date.
In the past month, it has reversed course and slipped 7% into the red.
The post Here’s why the Blackmores (ASX:BKL) share price is sliding today appeared first on The Motley Fool Australia.
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The author has no positions in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Blackmores Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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