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Nutritional Growth Solutions Ltd. (“the Company” or “NGS”, ASX:NGS), a global nutrition company that creates scientifically formulated and clinically proven supplements to support growth development in children, has appointed David Fenlon as Independent Non-Executive Chairman of the Company, effective immediately. Mr Fenlon has over 30 years’ experience in retail and consumer goods across Europe, Australasia and North America. Until very recently he was the Managing Director & CEO of leading beauty and wellness business BWX Limited (ASX: BWX), and was previously Managing Director – Australia & NZ for Blackmores Limited (ASX: BKL). In addition, Mr Fenlon is currently a Non-executive Director of Quest for Life Foundation, an Australian not-for-profit organisation dedicated to supporting people through personal traumas.
Commenting on his appointment as Chairman, Mr Fenlon said: “NGS has done a tremendous job in growing its business to where it is today. I am delighted to be joining the Company’s Board as its Chairman at this very exciting time where new market-leading products are being rolled across new channels and new geographies.
“I am looking forward to working closely with our CEO, Liron Fendell, and the rest of the NGS Board and management team to execute the Company’s mission to become a global household name in child nutrition.”
Mr Fenlon succeeds the founding Chairman of NGS, Brian Leedman who has decided to step down from the Board and continue his involvement with the Company in a consulting capacity. His Performance Rights will not expire on his resignation as Chairman, instead continuing until the end of his consultancy. The Board of NGS thanks Mr Leedman for his contribution as Chairman, and hisleadership and counsel navigating NGS through its pivotal public listing process and subsequent significant operational growth.
Mr Leedman said: “I am really proud of the progress NGS has achieved since listing on ASX. The Company has grown its sales substantially, launched new products, expanded into new geographies, and continued to build its reputation for providing clinically tested nutritional supplements for children.
“With the appointment of David as NGS’ new Chairman, and the incredible experience he brings to the Company, I look forward to seeing NGS’ further development and growth, and continuing to be a supportive shareholder.”
The materials terms of Mr Fenlon’s appointment are summarised in the attached Appendix.