Money: Blackmores' local boss quits for BWX role - PressFrom - Australia
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MoneyBlackmores' local boss quits for BWX role

09:50  16 may  2019
09:50  16 may  2019 Source:   msn.com

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© AAP Blackmores vitamins. Blackmores ' local boss has quit the supplement maker to become chief executive of natural beauty product manufacturer BWX . David Fenlon will be global CEO and managing director of BWX from July 1, replacing Myles Anceschi, who has only been in permanent charge of

Blackmores ’ local boss has quit the supplement maker to become chief executive of natural beauty product manufacturer BWX . Blackmores ’ managing director for Australia and New Zealand, Mr Fenlon had been with the company since January 2013 and managed the Blackmores , BioCeuticals

Blackmores' local boss quits for BWX role© AAP Blackmores vitamins. Blackmores' local boss has quit the supplement maker to become chief executive of natural beauty product manufacturer BWX.

David Fenlon will be global CEO and managing director of BWX from July 1, replacing Myles Anceschi, who has only been in permanent charge of BWX since September.

Blackmores' managing director for Australia and New Zealand, Mr Fenlon had been with the company since January 2013 and managed the Blackmores, BioCeuticals and Global Therapeutics brands.

Blackmores' full-year profit rose nearly threefold to $70 million during Mr Fenton's time with the firm.

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Find the latest BLACKMORE . FPO (BKL.AX) stock quote, history, news and other vital information to help you with your stock trading and investing. Blackmores ' local boss leaves for BWX role . Blackmores ' managing director David Fenlon will leave the supplement maker to replace Myles

Blackmores ' local boss leaves for BWX role . Blackmores ' managing director David Fenlon will leave the supplement maker to replace Myles Anceschi as BWX chief executive.

"David has been a fantastic leader in our business," Blackmores said in a statement on Thursday.

"We congratulate him on his appointment and support his desire to take on a new challenge and return to Melbourne."

Shares in BWX, which makes and distributes Sukin skincare and other natural products, slumped as much as 32.5 per cent after it announced a global restructure along with Mr Fenton's appointment.

BWX chairman Ian Campbell said that the business "needs further discipline, process and rigour to build scale and take advantage of the significant opportunities ahead".

"The board is keen to see the BWX strategy and the company's key transformation initiatives implemented with greater urgency to ensure the business can continue to scale from a stable base," Mr Campbell said.

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BWX CEO Myles Anceschi departs after less than a year in the job, as the natural skincare group behind the Sukin brand delivers its third earnings It has been a short tenure for BWX boss Myles Anceschi, who will be replaced by former Blackmores executive David Fenlon as the natural skincare

BWX said it expects FY19 trading earnings before interest, tax, depreciation and amortisation to be in the range of $21 million to $23 million.

"Sukin trading will be impacted in Q4 as we cycle unprofitable promotions and unnecessary stock building," it said.

BWX continues to anticipate growth in Australia with a product launch in Target stores scheduled for July.

Internationally, the business is focused on continued growth in the US, the UK, Europe, Asia, the Middle East and China through e-commerce.

At 1112 AEST, BWX shares were 24.25 per cent lower at $1.515.

Blackmores shares were 1.1 per cent lower at $88.50.

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