The Blackmores Limited (ASX: BKL) share price will be on watch this morning after the health supplements company announced the appointment of its new chief executive officer.
What did Blackmores announce?
This morning Blackmores chairman Brent Wallace announced the appointment of Alastair Symington as the company's new chief executive officer and managing director.
He will join the company on October 1, replacing Richard Henfrey, who resigned unexpectedly in February and then left Blackmores in March. Since then the company has been led by Marcus C Blackmore AM, the son of company founder Maurice Blackmore.
According to the release, Mr Symington is a global business leader and brand builder who brings more than 23 years of consumer goods experience in beauty, health, and grooming. This follows his time working at Nestle, Gillette, Procter & Gamble, and Coty across multiple geographies.
The new chief executive officer is currently based in Dubai and is a senior vice president of consumer beauty, leading the ALMEA region for Coty.
Positively for Blackmores, Mr Symington has a proven track record of achieving significant sales growth throughout the Asia region, particularly in China. He also has a strong focus on new product development and innovation.
Chairman Brent Wallace said: "Alastair brings the right mix of knowledge, experience and skill that is required to drive the Blackmores Group's growth strategy and seize on the opportunities available to our business across the APAC region."
He added: "Alastair has an extensive sales and marketing background in the FMCG (fast moving consumer goods) category and importantly, he has significant in-country Asia and China experience including cross border e-commerce and retail. Product innovation and education is a key priority for Blackmores in China. Alastair's deep understanding of China and proven track-record in product innovation will enable us to continue growing in this important market."
The company's new leader advised that he is excited to join the company and appears confident in its long-term growth potential.
Symington said: "I am incredibly excited to be joining Blackmores. The company has an unrivalled history in natural health and I firmly believe the opportunities are significant. I am committed to delivering on the company's strategy to drive substantial top-line growth via a greater presence of Blackmores throughout the region, and ensuring that we are more efficient as a business delivering superior results for shareholders."
