Bubs Australia Limited (ASX:BUB) has announced the appointment of Mr. Joe Coote as its new Chief Executive Officer, effective immediately. Bubs Australia is a company focused on providing premium infant nutrition products, particularly goat milk-based formula and other clean-label options. The company aims to cater to families seeking high-quality alternatives in the infant nutrition market.
Mr. Coote brings over 20 years of leadership experience in the FMCG, dairy, and infant nutrition sectors to Bubs. Most recently, he served as CEO of Darigold, a major dairy cooperative in the USA. Prior to that, he held senior roles at Fonterra, including President, Fonterra Americas, overseeing significant regional sales. The company’s Chair, Katrina Rathie, expressed confidence that Mr. Coote’s experience will drive Bubs’ domestic and international growth ambitions and create value for shareholders.
According to the announcement, Mr. Coote’s remuneration package includes a fixed annual remuneration of $750,000 AUD (inclusive of superannuation). He is also eligible for short-term and long-term incentives based on performance. The Board has thanked outgoing CEO Reg Weine for his contribution over the past two years. Mr. Weine noted that Bubs has grown into a profitable, global infant nutrition player during his tenure and that now is the right time for a new leader to take the helm. He remains a committed shareholder.
The key terms of Mr. Coote’s appointment and a short biography are included in the company’s announcement. Mr Coote has previously held positions at Coles Myer Group, Colgate Palmolive, Glaxo-Smith Kline and PwC.
