Embattled organic baby formula maker Bellamy's Australia has stood down chief executive Laura McBain following weeks of speculation around her future with the company.

Ms McBain will be replaced on a interim basis by Andrew Cohen while the board begins a search for a new head. Mr Cohen joined Bellamy's as chief operating officer in July 2016 and was previously a partner at consultant Bain & Co. Nigel Underwood has been appointed as interim chief financial officer. Former chief financial officer Shona Shona Ollington has been demoted to a role on the finance team.