The A2 Milk Company Ltd (ASX: A2M) share price is trading lower on Monday.
At the time of writing the infant formula and fresh milk company’s shares are down 0.35% to $14.32.
Why is the a2 Milk Company share price trading lower?
Today’s decline appears to be down to general weakness in the share market on Monday.
This has been caused by a disappointing finish to the week on Wall Street following a softer than expected U.S. jobs result.
Combined with lower than anticipated wage growth in the United States, this sparked concerns over U.S. consumer spending and the economy in general.
In other news.
There has been news out of a2 Milk Company on Monday. This morning it revealed that Race Strauss has commenced in the role of Chief Financial Officer.
Race Strauss is replacing Craig Louttit who revealed in September that he would be electing to step back from the role.
Mr Louttit won’t be leaving the company, though. He has agreed to continue in the role of Deputy Chief Financial Officer.
Who is Race Strauss?
The release reveals that the company’s new Chief Financial Officer is an extremely experienced finance executive. He has a strong packaged goods background as well as relevant international experience. This is particularly the case in China and other Asian regions.
He spent over 20 years at Unilever and most recently held Chief Financial Officer roles with Qantas Airways Limited (ASX: QAN). The latter includes at Jetstar and at Qantas Airlines.
Another change that is occurring is the departure of its Chief Technical Officer, Phil Rybinski. He will be departing the company in order to pursue other interests.
Shareef Khan, the company’s Chief Operations Officer, will assume responsibility for all Technical function activities on an interim basis. More permanent leadership arrangements will be announced at a future date.
The post A2 Milk Company announces more senior leadership changes appeared first on Motley Fool Australia.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of A2 Milk. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
The Motley Fool's purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool's free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. 2020