Ann: OFFICE: TIL: Trilogy Natural Products' MD to become Trilogy Group CEO

• Release Date: 30/04/15 09:56
• Summary: OFFICE: TIL: Trilogy Natural Products' MD to become Trilogy Group CEO
• Price Sensitive: No
• Download Document  4.13KB

					TIL
30/04/2015 09:56
OFFICE
PRICE SENSITIVE
REL: 0956 HRS Trilogy International Limited

OFFICE: TIL: Trilogy Natural Products' MD to become Trilogy Group CEO

Trilogy Natural Products' Managing Director to become Trilogy Group CEO

Trilogy International (NZX: TIL) announced today that Angela Buglass,
currently Managing Director of its Trilogy Natural Products division, will
become Group CEO, effective 1 July 2015.

A New Zealander, Angela returned to New Zealand to join Trilogy in 2014,
following a successful international career in the beauty and skincare
industry, including senior roles for industry heavyweights including Estee
Lauder and L'Oreal Group.

Trilogy Chairman, Geoff Ross, said Angela's appointment - initially to head
the Trilogy brand and now to assume the Trilogy International Group CEO
position - is intended to support the growth of Trilogy International's key
brands in international markets. She is a returned kiwi expat with global
ambitions for the brand.

Trilogy's business performance has been strongly increasing, with the company
issuing a profit update on 11 March 2015 to signal net profit growth of more
than 300% - more than $4 million - for the financial year ending 31 March
2015.
"With the New Zealand and Australian markets both performing well and
profitably now, our strategy is around pursuing growth in our key
international markets, including the UK, Asia and the United States," said
Ross.

"We see an opportunity to leverage Angela's direct, hands-on experience
growing brands in these markets, and feel she will now be best positioned to
achieve this from the CEO's chair."
Angela initially stood out after the Board conducted a global search within
the skincare and cosmetics industry in 2014.  "We were looking for a
world-class candidate to lead the Trilogy Natural Products brand into the
next stage of its growth and development," Ross said.

"In Angela, we found someone with an established track record in building
world-class brands of scale in the markets of most interest to us.

"That she is also a passionate New Zealander who shares our belief in the
opportunity for quality New Zealand brands to compete and succeed on a world
stage against the big players, was an added and welcome bonus.

"Since joining our business - initially as MD of Trilogy - Angela has quickly
demonstrated the value of her international industry experience, as well as
her broader business acumen and natural leadership skills.  We believe the
Ecoya brand will also benefit from her stewardship."

Ross said the company owes much to current CEO, Stephen Sinclair, who has
guided the business into profitability in his tenure as CEO, as well as
spearheaded key initiatives including the distribution agreement with MCP in
Australia that has materially lifted performance in that market.

"Steve has led the business since October 2012 to the point we are now able
to pursue new opportunities from a position of strength," Ross said.

 "We are extremely fortunate that we will be able to retain Steve in an
executive capacity through a transition period (initially six months), during
which he will continue to focus on some key commercial and operational areas,
as well as support Angela's transition.  This is ideal."

Alongside these changes, Sarah Gibbs - one of the original founders of
Trilogy, has signalled her intention to resign from the Board after 3 years,
although has advised the Board that she has no intention to reduce her
shareholding at this time (currently 5.19%).

Ross thanked Ms Gibbs for sharing her experience, drive and energy as a
member of the Board.  He also acknowledged her vision, courage and hard work
to establish the Trilogy brand and business from scratch in 2002 as one of
its founders.

"Sarah is one of the great New Zealand entrepreneurs.

"She, along with her sister Catherine de Groot, built a very good business
around a range of high quality products which are proving to be world-class.
 This is a fantastic achievement.

"On behalf of the Board I'd like to thank Sarah sincerely," Ross said.

Ends.

For more information please contact:
Geoff Ross
Chairman
021 424 219
End CA:00263702 For:TIL    Type:OFFICE     Time:2015-04-30 09:56:04