Founder back in top job

By Country News

The founder of Bubs Australia is returning as chief executive after the baby food maker’s current head said he would step down next month.

Managing director Kristy Carr, who had fulfilled the chief executive duties before Nicholas Simms’ appointment in June 2017, will assume the role full-time when Mr Simms finishes his contract with the infant formula firm next month.

Mr Simms said he was leaving the business having met all his targets.

Under his leadership, Bubs became Australia’s largest producer of goat dairy products when the company acquired Victoria’s NuLac Foods in December.

The company raised $40million in shares at 75¢ each in June, with proceeds to support new developments in China.

Bubs has been expanding aggressively into the Chinese infant formula market, securing a deal to sell its products on the nation’s biggest e-commerce platform Alibaba in June.

An agreement with Chinese distributor Hipac in late-August gave it access to another 83000 stores.

Bubs Australia chairman Dennis Lin thanked Mr Simms for his leadership.

‘‘The business has seen impressive positive momentum under his guidance, performing strongly in Australia and is well positioned to take advantage of huge opportunities for growth in China and beyond,’’ he said.

Ms Carr, who will remain executive director on the company’s board, said Bubs was poised for further expansion.