Bubs appoints former Darigold, Fonterra exec Joe Coote as CEO
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The news: Baby formula and food business Bubs has appointed former Darigold CEO and Fonterra president Joe Coote as its new CEO, effective immediately.
The numbers: Shares in Bubs had lifted by 2.9% to 18 cents by 11:29am AEST.
The context: Coote previously spent more than three years at the US’ fourth largest dairy cooperative Darigold, including two years as CEO, as well as 12 years across senior roles in Fonterra leading commercial operations.
This culminated in his appointment as Fonterra Americas president.
Coote replaces Reg Weine, who has spent more than two years leading Bubs.
What they said: “This combination of extensive expertise in supply chain, finance and commercial operations together with his strong global networks make Joe an ideal fit to guide Bubs through its next phase of growth, particularly his recent eight-year tenure in the USA as we anticipate securing permanent USA market access later in 2025,” Coote said.
The source: ASX
