Bubs Australia has appointed Joe Coote as its new Chief Executive Officer, effective immediately. Coote succeeds Reg Weine, who has led the goat milk formula company for the past two years. Bubs Australia is focused on infant formula and nutritional products, particularly using goat milk, and aims to establish a permanent brand presence in the United States.
Coote brings extensive experience, most recently serving as CEO of Darigold, the fourth-largest dairy cooperative in the US, where he oversaw over $US2 billion in global sales. He also spent 12 years at Fonterra in senior commercial roles and began his career at PwC Brisbane. Bubs chairwoman Katrina Rathie expressed confidence in Coote’s ability to execute the company’s growth ambitions and create shareholder value.
Rathie highlighted Coote’s expertise in supply chain, finance, and commercial operations, along with his global networks, as ideal for guiding Bubs through its next growth phase, particularly in the US market. The company anticipates securing permanent USA market access later in 2025. Coote’s remuneration package includes an annual salary of $750,000 (including superannuation) plus short and long-term incentives.
In a separate ASX announcement, Bubs reported full-year net revenue of $102.5 million for 2025, a 29 per cent increase from the prior year. The company expects to achieve EBITDA of $5.5 million to $6 million, a significant improvement from the approximately $20 million loss reported a year ago.
