- Bubs Australia (BUB) axes long-serving CEO Kristy Carr with immediate effect after alleging she failed to comply with “reasonable board directions”
- Former Executive Chair Dennis Lin’s employment with the company has also been terminated
- The company noted the recent deterioration in Bubs’ financial performance over the half-year, with its non-executive directors deciding the time was right for a change in leadership
- Bubs announces Richard Paine will remain as interim CEO until a permanent replacement is found
- Shares in BUBS last traded at 18.5 cents at 1:30 pm AEST.
Bubs Australia (BUB) has axed long-serving CEO, Kristy Carr, with immediate effect after alleging she failed to comply with “reasonable board directions”.
The company also announced former Executive Chair Dennis Lin’s employment with Bubs was also terminated.
Bubs Australia Chair Katrina Rathie thanked Ms Carr for her time in shaping the company into what it is today.
“We acknowledge Kristy’s long service to Bubs and the role she has played in building the Bubs brand to the position it enjoys today,” she said.
Following the recent deterioration in Bubs’ financial performance over the first half, its non-executive directors decided it was the right time for a change in leadership.
Back in April, the company announced a strategic review of the global business with a focus on expenditure management and the Chinese market.
Bubs reported Richard Paine would continue as interim CEO until a permanent replacement is found.
Shares in BUBS last traded at 18.5 cents at 1:30 pm AEST.