Blackmores Limited (ASX:BKL) (OTCMKTS:BLMMF) Chairman Stephen Chapman, today announced the appointment of Richard Henfrey as Chief Executive Officer following the recent resignation of Christine Holgate.
Richard has served as Chief Operating Officer of Blackmores for the past three years and has held a number of senior leadership roles within the company since joining in 2009. His appointment is effective immediately.
The appointment follows an extensive process which evaluated both internal and external candidates.
In addition to his Chief Operating Officer role at Blackmores, Richard has also held Executive Team roles across Strategic Sourcing and People and Strategy. Richard was the Board President of Complementary Medicines Australia, the industry association, until December 2015.
"Richard has been at the forefront of Blackmores' strategy development for more than eight years and has driven key business projects that positioned us well for the transformation of our business over that time," said Stephen Chapman, Blackmores Chairman.
"He has demonstrated his integrity, leadership capability and strong strategic and financial acumen throughout this time and has earned the respect of his team, our business partners and the Board. He met all of our criteria to become the next leader of the Blackmores business."
"Richard successfully led Blackmores' operational teams through a period of extraordinary growth as our Asia business expanded," said Mr Chapman. "He has engaged closely with industry regulators both in Australia and across Asia, has deepened our influence over our supply chain and continued to raise the standards underpinning our quality program."
"His academic qualifications in Natural Sciences combined with more than two decades of experience in directing strategy, people and leading financial transformation makes him one of the rare people who understands natural health and the drivers of our business," said Stephen Chapman.
"The roles he has held have given him a unique insight into the complexities of our business and the opportunities before us. Given his commitment to our values, our culture and our people, his appointment will ensure a seamless transition for our team and the continuation of our growth strategy."
Richard Henfrey said: "I am delighted to have been appointed as the next leader of this outstanding business. I come to the role with great enthusiasm and confidence in the long term prospects for our business and the industry as a whole."
"Having joined Blackmores in a role tasked with the development of a growth strategy in 2009 we have seen an exciting Australian business expand into a Group with a diverse portfolio of brands and people across the Asia Pacific region. My focus in taking on this role is to continue to expand our operations, invest in product development, extend our research and education capabilities and to showcase Australian health innovation on a world stage."
"I'm privileged to be working with a wonderful team and together we'll begin this next chapter in the Blackmores story," said Richard Henfrey. "I'd like to thank Christine Holgate who has been an inspiring CEO for Blackmores over the last nine years."
Blackmores will announce its full year financial results on 29 August 2017.
Chief Executive Officer, Blackmores Ltd.
Richard Henfrey begins as Chief Executive Officer on 17 August 2017 after more than eight successful years on Blackmores' Leadership Team including three years as Chief Operating Officer. He was Board President of Complementary Medicines Australia from June 2011 until December 2015 leading the industry association's input into the most comprehensive review into regulation of complementary medicine since the system was established in 1989.
Prior to Blackmores he worked for Telstra Corporation in roles including Director of Technical Sales, Telstra Business, General Manager, Business Sales NSW and General Manager of Marketing Strategy, Telstra Business and Government.
Prior to emigrating to Australia in 2003 with his Australian wife and children, Richard was Director of Strategy and market Intelligence for Energis plc and played a key role in the financial restructuring of the business.
Richard graduated from Cambridge University with honours in Natural Sciences, specialising in genetics and molecular and cell biology.
He passionately supports the molecular cardiology work of the Centenary Institute, Quest for Life Foundation and Bear Cottage.
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