- a2 Milk Company (A2M) CEO and Managing Director Jayne Hrdlicka has resigned
- In a statement, she cited the growing travel requirements and competing commitments
- Former CEO Geoffrey Babidge will serve as the interim CEO during the recruitment phase
- Company shares are down 5.5 per cent, trading for $13.74 apiece
a2 Milk Company (A2M) CEO and Managing Director Jayne Hrdlicka has resigned, citing growing travel commitments.
In a statement. she said the travel associated with running a New Zealand company based in Australia was greater than she anticipated when she took up the role in July 2018.
“The reality, however, is that the next three to five years will continue to require the CEO being present in our core markets of China and the U.S.,” Jane stated.
“The Board and I agreed that this next phase is going to be too difficult to manage alongside my other commitments whilst also managing the health and wellness priorities of my family and me,” she continued.
Jane is also the President and Chair of Tennis Australia.
Interim CEO
The a2 Milk Chairman announced former CEO Geoffrey Babidge will serve as the interim CEO during the recruitment process. After taking up the role in 2010, he retired last year.
“The appointment of Geoffrey Babidge will ensure that the current strategies and plans endorsed by the Board will continue to be implemented seamlessly during the period of transition to a new CEO,” said Chairman David Hearn.
The company expects a new CEO will be found by the end of the 2020 financial year.
In addition, China-based Non-Executive Director Jesse Wu will oversee the China business in the interim.
Company shares are down 5.5 per cent, trading for $13.74 apiece at 10:58 am AEST.