On 19 February 2019, BOD Australia Limited (ASX: BDA), a company from the Consumer Discretionary industry group and engaged in the distributing and marketing of two premium brands and products for the skincare, beauty and health industries, announced that it has succesully attracted two industry leaders from Blackmores Ltd to strengthen the senior management team. The company appointed Mr Charles Altshuler as the Head of Finance. He was working as a financial and operations manager at Blackmores Ltd. The company appointed Ms Despina Lord, the ex-Integria Healthcare and Blackmores, as a Medical Science Liaison Manager.
Both the executives carried enormous experience in the healthcare and natural medicines sector. Both the executives are the ex-employees of Blackmores, which is one of the largest vitamin and health supplements brands in Australia with the market capitalization of A$2.1 billion as well as Integria Healthcare, which is the leading natural medicine distributor in Australia and New Zealand.
The appointment of these two executives highlighted the BOD’s strategy of attracting the leading industry executives using an innovative approach to the wellness and health sector. The appointment of Mr Altshuler and Ms Lord will support the management team as the company progresses towards its revolution of the health and wellness space as well as continue to leverage the health benefits of using hemp and cannabis across its product suite.
The appointment of top-tier management also highlighted Bod’s strategy of leveraging sector expertise, product knowledge and relationships of these executives which will help the company in driving the company’s business growth, further progress in product development as well as an increase in the market share.
Mr Altshuler has above 15 years of experience in senior finance and operational positions. Before being appointed by BOD as the head of finance, he was Financial and Operations manager at Blackmores Australia in the nutritional foods division. He is an expert in pursuing revenue generating opportunities and working with contract manufacturers to bring the new product to market and also have a strong track record for the same. While seeking revenue making opportunities, he also ensured financial and operational control to grow market share. When he was associated with Blackmores, he took multiple commercial initiatives in overseas markets such as China and South Korea.
Ms Lord has 20 years’ experience in the healthcare and natural medicines sector. She had spent almost 15 years with Blackmores where she was responsible for new product launches and PR campaigns for driving growth and increase product uptake. Before her appointment in BOD as Medical Science Liaison Manager, she was Group Marketing Manager for Integria Healthcare’s MediHerb range globally. With her appointment, the company is looking forward to leveraging her experience and credentials in the educational initiatives and new product development programs.
The announcement also covered, the European expansion initiatives taken by the company where they have already made considerable advancements. Also, the company is in discussions with multiple potential distributors in the region for its range of natural medicines and medicinal cannabis range, MediCabilis™ which is expected to get finalized in the upcoming weeks.
Since the inception, the stock has generated a positive return of 53.45%. However, in the last six months, the stock has generated a negative return of 25.83%. By the closure of the trading session on 19 February 2019, the closing price of the share was A$0.445, up by 2.299% as compared to its previous trading day’s closing price. Today, the stock is trading flat at A$0.445 (As at 2:30 PM AEST, 20 February 2019). The stock has a market capitalization of A$30.88 million with approximately 69.39 million outstanding shares.
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