Lovisa shares surge on Mark McInnes appointment
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More news: Lovisa shares jumped in early trading after the jewellery maker announced BBRC chief executive Mark McInnes as its executive deputy chair.
Lovisa shares were up 7% to $31.39 at 10:45am AEST.
Mark McInnes joins Lovisa as executive deputy chair
The news: Mark McInnes has joined jewellery maker Lovisa as its executive deputy chair more than a year after he was appointed global CEO, retail and consumer at its major shareholder, billionaire Brett Blundy's BB Retail Capital (BBRC).
The context: BBRC currently owns a 39% stake in Lovisa with McInnes starting his new role today. McInnes previously spent 10 years as CEO of Premier Investments and Premier Retail and seven years as CEO of David Jones.
At the same time, Lovisa also confirmed that its new global CEO and managing director John Cheston has also commenced his role. Cheston replaces Victor Herrero who ended his tenure on 31 May.
What they said: “Mark’s extensive experience and proven track record of success in large Australian ASX listed retailers, combined with his leadership skills make him an invaluable member of the Board and Executive Management team,” Lovisa chair and BBRC owner Brett Blundy.
“We are confident that his contributions will further strengthen our position in the industry and drive long-term value for shareholders.”
The source: ASX
