Join our daily newsletter At The Bell to receive exclusive market insights
- Nutritional Growth Solutions (NGS) shuffles its leadership team to drive its north American growth
- Nutritional Growth’s President of its North American operations, Stephen Turner, will transition to the role of CEO from March 1
- As such, the company’s current CEO and Managing Director, Liron Fendell, will step down from the same date, remaining on the board as a non-executive director
- NGS’s finances will continue to be managed by CFO Yossi Nizhar, while operations will be overseen by Niels Tervoort, Director of Global Supply Chain and Operations
- Nutritional Growth Solutions is down 3.7 per cent, trading at 2.6 cents at 12:30 pm AEDT
Nutritional Growth Solutions (NGS) has promoted Stephen Turner to the role of CEO to drive growth in North America.
Currently NGS’s President of North American operations, Mr Turner will transition to the top job from March 1.
Current CEO and Managing Director, Liron Fendell, will step down on March 1 but will remain on the board as a non-executive director.
Mr Turner joined NGS in 2021, bringing over 20 years’ experience in the industry, having held senior roles with numerous health and pharmaceutical companies.
Prior to joining NGS, Mr Turner was Vice President of Sales and Marketing at NYSE-listed Strides Pharma Science where he was responsible for creating a new over-the-counter consumer product division.
In his new role at NGS, Mr Turner will receive a base salary of $287,500 per annum. He currently holds 750,000 options, issued on July 2021 under the company’s employee stock option plan, at an exercise price of 17 cents each.
NGS’s finances will continue to be managed by Chief Financial Officer Yossi Nizhar, while operations will be overseen by Niels Tervoort, Director of Global Supply Chain and Operations.
The company said over the coming year it aims to further expand its footprint in the US, building momentum with both Walmart and Amazon.
“I believe that we have the best product in the market and my intention is to unlock the growth, thereby creating shareholder value,” Steve Turner said.
Nutritional Growth shares were down 3.7 per cent, trading at 2.6 cents at 12:30 pm AEDT.
