AAP Finance

Blackmores’ local boss leaves for BWX role

By AAP Newswire

Blackmores' local boss has left the supplement maker to move closer to his family as chief executive of Melbourne-based natural beauty product manufacturer BWX.

David Fenlon will be global CEO and managing director of BWX from July 1, replacing Myles Anceschi, who has only been in permanent charge of BWX since September.

Blackmores' managing director for Australia and New Zealand, Mr Fenlon had been with the company since January 2013 and managed the Blackmores, BioCeuticals and Global Therapeutics brands.

Blackmores' full-year profit rose nearly threefold to $70 million during Mr Fenlon's time with the firm.

Interim CEO Marcus Blackmore said Mr Fenlon's decision had "absolutely" been his own.

"I'm really disappointed that he's leaving and in some ways so is he," Mr Blackmore told AAP.

"He's become more than a staff member to me; he's become a friend. He's had a very significant influence."

Mr Fenlon initially commuted for four years to Sydney from Melbourne for the position, before moving to Sydney.

"That puts stress on the family ... you might have family things during the week and you can't be there," Mr Blackmore said.

"He told me: 'It's time to get back my family back together.'"

Mr Fenlon said he will look back very fondly on his time with Blackmores.

"I've a wonderful time " Mr Fenlon told AAP.

"But I'm a Melbourne boy."

The move creates a vacancy for Blackmores, which is still looking for a permanent CEO to replace Richard Henfrey, who stepped down in February.

Mr Blackmore said some candidates he has met with would be more suited for a managing director role.

"Some of those people would not make the grade as a CEO," Mr Blackmore said.

"They didn't have those attributes, but they may have the attributes for this one."

He said that, given Blackmores sells more product to women than men, he would choose a female over a male candidate if they were of equal ability.

Shares in BWX, which makes and distributes Sukin skincare and other natural products, slumped as much as 32.5 per cent after it announced a global restructure along with Mr Fenlon's appointment.

BWX chairman Ian Campbell said that the business "needs further discipline, process and rigour to build scale and take advantage of the significant opportunities ahead".

"Sukin trading will be impacted in Q4 as we cycle unprofitable promotions and unnecessary stock building," it said.

BWX continues to anticipate growth in Australia with a product launch in Target stores scheduled for July.

Internationally, the business is focused on continued growth in the US, the UK, Europe, Asia, the Middle East and China through ecommerce.

At 1246 AEST, BWX shares were still 20 per cent lower at $1.60.

Blackmores shares were 1.2 per cent lower at $88.44.