Ansell (ASX:ANN) share price lower despite CEO appointment

Here’s who will be leading this health and safety products company through its next phase…

| More on:
two businessmen shake hands amid a backdrop of tall buildings, indicating a share price movement or merger between ASX property companies

Image source: Getty Images

The Ansell Limited (ASX: ANN) share price is trading lower on Tuesday morning despite announcing its new CEO.

At the time of writing, the health and safety products company’s shares are down 0.5% to $40.03.

What did Ansell announce?

According to the announcement, the company has promoted Neil Salmon to the role of Managing Director and CEO effective 1 September 2021. This follows a comprehensive internal and external search for a successor. He will be replacing the retiring Magnus Nicolin.

The release explains that Mr Salmon joined Ansell in 2013 as its CFO and was appointed President of Ansell’s Industrial GBU in 2019. A new head of the Industrial GBU will be appointed in due course.

Ansell’s Chairman, John Bevan, believes that Neil Salmon will be the ideal leader for Ansell in its next phase of development.

He commented: “Neil has the right combination of financial and operational experience and capability for the CEO role at Ansell. He has worked alongside Magnus for many years and was a key contributor to the strategies which transformed Ansell during that time. More recently, Neil also led our Industrial GBU with its over 7,500 strong manufacturing, marketing and product development workforce located in multiple jurisdictions.”

“His leadership was critical in the management of the initial challenges of the pandemic, positioning the business where it could maximise benefits from the recovery as it emerged. Ansell’s strategies are delivering well. Neil understands the drivers of Ansell’s success in recent years and I’m confident Neil will build on that momentum,” Mr Bevan added.

The new CEO appears up for the challenge of leading the company.

Mr Salmon said: “It is a considerable responsibility to lead Ansell at this time of enormous need for our personal protection products worldwide. I thank the Board for the opportunity to build on Ansell’s success and I acknowledge the outstanding leadership of Magnus Nicolin in taking the company so far.”

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of May 24th 2021

James Mickleboro does not own any shares mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Ansell Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Fallers