Bubs Australia chief executive Kristy Carr is increasingly unlikely to return to the infant formula company she co-founded due to discontent with the current board, which is believed to be making contingency plans for appointing a new CEO.

While the board led by chairwoman Katrina Rathie is hoping Ms Carr comes back to work this month from leave, multiple sources say that Bubs is organising a potential succession plan, with new director Reg Weine the best-placed candidate to step up.