Lark Distilling Co warned of Geoff Bainbridge’s “drug problem”
It’s been revealed the board of Lark Distilling Co may have been warned of former CEO Geoff Bainbridge “coke problem”. LATEST ON THE SAGA >>
Tasmania
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It’s been alleged the board of Lark Dilling Co was told the now former CEO Geoff Bainbridge may have had a drug problem, in a letter from a major shareholder more than two years ago.
Last week Mr Bainbridge resigned as CEO effective immediately after video of him smoking from a pipe was leaked to media outlets.
Mr Bainbridge said he wanted to minimise the damage to his own and Lark’s reputation.
He said he was remorseful for his actions but considered himself a victim, claiming extortionists were using the video to blackmail him for several years.
He denies being a drug addict.
The Australian reports a letter sent in 2019 from major shareholder Chris Malcolm raised concerns about Mr Bainbridge, alleging he was a “cokehead”.
It’s been reported Mr Malcolm believed Mr Bainbridge’s alleged activities were detrimental to shareholders.
On the day Mr Bainbridge resigned, Lark Distilling Co’s share price dropped by 20 per cent.
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