a2 Milk CEO Resigns, Guidance reaffirmed

December 09, 2019 01:23 PM AEDT | By Team Kalkine Media

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A2 Milk Company Limited (ASX: A2M) has announced that the Managing Director & CEO of the company, Jayne Hrdlicka, has agreed to resign from her current position. For the meantime, the company has appointed former CEO, Geoffrey Babidge as the interim CEO. Soon, the company will conduct an international search for a full time CEO and is planning on an appointment before the end of FY20. The company has also reaffirmed its FY20 guidance:

Full year EBITDA margin will be in the range of 29-30%;
1H20 revenue will be between $780 to $800 million;
1H20 EBITDA margins are expected to be higher than FY20 and in between 31-32%.

At AEST 01:20PM, the stock was trading at $14.000 per share, down by 3.7% from its previous close.

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