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Tag: bubs

  • Bubs Australia Announces Board Reshuffle: Paul Jensen Steps In As Independent Chair

    Bubs Australia Announces Board Reshuffle: Paul Jensen Steps In As Independent Chair

    Bubs Australia, a prominent infant nutrition company, has recently undergone changes in its executive board. Paul Jensen, one of the non-executive directors, has been appointed as the independent chair. This announcement was made following the exit of the previous chair, Katrina Rathie.

    New Appointments

    Paul Jensen, who has been an integral part of the board since 2023, has now taken on the role of independent chair. Throughout his tenure, Jensen has not only led the company’s audit and risk committee but has also brought to the table more than twenty years of experience. His expertise spans across various industries and includes both ASX-listed and unlisted boards.

    Additionally, Joe Coote, who assumed the position of CEO earlier this year, has been appointed to the board as Managing Director (MD). Coote has a deep-seated background in leadership roles, with over two decades of global experience in consumer products, dairy, and infant formula industries.

    Stronger Outlook

    Expressing his enthusiasm about the future of Bubs and his new role, Jensen said, “I am excited about the future of Bubs and the opportunity to serve as chair and welcome Joe to the board as MD.”

    Jensen further highlighted their commitment to advance board evolution throughout the current financial year. This strategic move aims to make certain that the right blend of skills and experience are on board to oversee their corporate strategy, and to align with corporate governance standards.

    Questions & Answers

    Who has been appointed as the new independent chair of Bubs Australia?
    Paul Jensen, a non-executive director of Bubs Australia, has been appointed as the new independent chair.

    Who has joined the board as the managing director?
    Joe Coote, CEO of Bubs Australia, has joined the board as the managing director.

    What is the main aim of the board evolution at Bubs Australia?
    The main aim of the board evolution at Bubs Australia is to ensure a balanced mix of skills and experience to oversee the corporate strategy and comply with corporate governance standards.

  • Baby food company Bubs Australia wins big Chinese contract

    Baby food company Bubs Australia wins big Chinese contract

    Baby food manufacturer Bubs Australia will soon see its products in up to 80,000 outlets across China, under an agreement with the country’s largest distributor of infant nutrition products.

    Bubs announced today that it had signed a distribution deal with QianJiaWanPu Co, to supply up to 80,000 Mother & Baby stores in China with organic baby food pouches, cereals and snacks.

    The company said an initial order to the value of $1.1 million would be supplied between June and December.

    QianJiaWanPu founder Zhou Dongming said the addition of Bubs products was an important extension to its international product portfolio.

    “In time, we look forward to deepening our association with Bubs once its goat milk infant formula products are approved for import,” Mr Zhou said.

    “Premium organic baby food and goat milk based formulas are two segments of the category experiencing rapid growth in China, and I’m confident my retail customers and Chinese mothers will find Bubs’ Australian brand story and premium quality attributes a winning combination.

    “No other infant formula brand in the world uses Australian goat milk, so this point of differentiation will be highly sought-after.”

    Bubs Australia managing director Kristy Carr said the deal was an important step in the execution of the company’s China strategy.

    “The importance of the partnership cannot be underestimated, given that Mother & Baby stores account for over half of all infant formula products sold in China, and is the prime source for new parents and parents-to-be seeking advice about babies’ development and infant nutrition products,” Mrs Carr said.

    “This is why physical representation in the sector is critical to our long-term success in the market, notwithstanding the importance of cross-border e-commerce and daigou shoppers as our existing primary routes to market.”

    Bubs’ stock gained 1.5 cents on the ASX following the announcement, to close trade at 81 cents.

    The deal is the latest in a series of recent tie-ups between Australian infant formula manufacturers and Chinese groups in 2018.

    Earlier in April Wattle Health Australia inked a deal with China’s International Supplies and Distribution Company, to distribute its products across more than 2,000 retail stores.

    That was followed up by Golden Koala milk, infant formula and milk powders being approved to be sold on JD.com’s JD.hk cross-border platform.