Bubs investors seek to install Peter Nathan as CEO in board spill
Key Points
- A dissident group of shareholders led by co-founder Kristy Carr is seeking to install former a2 Milk executive, Peter Nathan, as CEO as part of a board spill.
- James Jackson, a former deputy chairman of listed agribusiness Elders, has been nominated as Bubs’ non-executive chairman. Rupert Soar is vying for a non-executive director seat.
- Bubs board is led by chairwoman Katrina Rathie. Reg Weine, Paul Jensen and Steven Lin (C2 Capital) are non-executive directors.
- Former CEO Ms Carr and ex- executive chairman Dennis Lin resigned from the board on Tuesday night.
Former Bubs Australia chief executive Kristy Carr is leading a group of dissident investors who plan to spill the board and install a former a2 Milk executive, Peter Nathan, to lead the infant formula manufacturer.
Dennis Lin, Bubs’ former executive chairman, Bubs co-founder, Anthony Gualdi, and the company’s largest customer in China, AZ Global, are also involved in the push to roll the board. Their combined holdings are expected to tally just over 5 per cent, sufficient to call an extraordinary general meeting.
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