Bubs Australia chair, Katrina Rathie, has resigned after four years on the board and two years as chair. She joined the company during a period of significant change, including the ousting of founder, Kristy Carr, and executive chair, Dennis Linn.
Current board director, Paul Jensen, has been announced as Rathie’s replacement. CEO and managing director, Joe Coote, will also join the board as a director.
During her tenure, Bubs achieved its maiden profit and became cash flow positive. It broke through more than $100 million revenue and reached gross margins of 47.8 per cent, while Rathie also led the overhaul of employee and compensation policies and performance evaluation process.
This year, Rathie won the inaugural Chair of the Year - Small Company award at the inaugural Australian Financial Review Boss Director Awards.
“It has been a privilege to chair the board of Bubs Australia through such a pivotal juncture over the past few years. As I pass the baton, I am incredibly proud of Bubs’ many achievements as it transitioned from a founder-led company to a profitable, well-governed, ASX listed company, achieving its inaugural profit this year, and conducting what we believe to be the largest single clinical infant milk formula trial in the US as part of our FDA application for permanent access to the USA market anticipate later this year,” Rathie said.
