Jatcorp CEO Sunny Liang steps down
Australian milk powders enterprise Jatcorp has revealed its CEO and director Sunny Liang, has resigned from the enterprise after simply 18 months on the helm.
He steps down from his place with quick impact.
In ASX announcement at the moment (3 September), the corporate confirmed government director Dr Sean Li has taken on the CEO place till a everlasting alternative is discovered.
The agency famous that Liang had agreed to stay with the corporate throughout his three-month discover interval to help with the transition course of to a brand new CEO.
“The corporate sincerely thanks Mr Liang for his management of Jatcorp, and [the] strengthening of it throughout his time on the firm,” Jatcorp stated within the inventory alternate submitting.
Liang was first appointed as CEO on the shopper items firm in January 2024, after beforehand being COO and government director.
Previous to working for Jatcorp, Liang spent greater than a decade within the export trade, particularly specializing in toddler formulation, in addition to well being dietary supplements and different areas regarding cosmetics and private care, in keeping with the corporate.
The CEO shift follows Jatcorp’s issuance of a revenue warning for the 2025 fiscal yr in July, because of income declines and impairments.
The Sydney-headquartered firm stated in a inventory alternate submitting on the time that it anticipated to e-book a internet lack of A$7.6m to A$8m ($5m to $5.2m) for the 12 months to the tip of June.
That’s based mostly on an anticipated second-half lack of A$1.5m to A$1.9m, on high of the A$6.1m loss registered within the first six months of the fiscal yr.
Jatcorp stated the projected loss was because of “income contraction”, an impairment at its subsidiary Sunnya Goodwill, and stock write-downs.
It additionally talked about authorized bills associated to a dispute in China over the Neurio model.
Jatcorp stated on the time that it “stays centered on the execution of its strategic development agenda” and is “cautiously optimistic” concerning the outlook for FY2026.
Because of the operational restructuring efforts undertaken in FY2025, administration expects “improved efficiency” within the yr forward, supported by a “sharpened deal with model growth, distribution enlargement, and margin restoration”.
In Jatcorp’s newest monetary accounts for 2025, complete income for the yr was $34.8m, down 34% (lower of $17.6m) on the earlier yr. In the meantime, it is gross revenue was $11.4m, down 41%.
“Jatcorp CEO Sunny Liang steps down” was initially created and printed by Simply Meals, a GlobalData owned model.
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