The Australian activity of JATCORP milk powders revealed that its CEO and director Sunny Liang resigned from the company after only 18 months at the helm.
He descends from his position with immediate effect.
In the ASX announcement today (September 3), the company confirmed that the executive director of Dr Sean Li provided the CEO position until a permanent replacement was found.
The company noted that Liang had agreed to stay with the company during its three -month notice period to help the transition process to a new CEO.
“The company sincerely thanks Mr. Liang for his management of Jatcorp, and [the] The strengthening of it during his stay at the company, “said Jatcorp in the Bourse file.
Liang was appointed CEO for the first time to the consumer goods company in January 2024, after being previously managed and executive director.
Before working for JATCORP, Liang spent more than a decade in the export industry, by specifically focusing on infant preparation, as well as health supplements and other areas relating to cosmetics and personal care, according to society.
The change of CEO follows the emission by JATCORP of a profit warning for the financial year 2025 in July, due to the drop in income and deficiencies.
The company whose headquarters is in Sydney said in a scholarship file when it expected to reserve a net loss of $ 7.6 million at $ 8 million ($ 5 million to $ 5.2 million) for 12 months to the end of June.
This is based on a loss planned in the second half of $ 1.5 million to $ 1.9 million, in addition to the loss of $ 6.1 million recorded in the first six months of the fiscal year.
Jatcorp said that the loss projected was due to “income contraction”, a deficiency in its subsidiary Sunnya Goodwill and the reduction of stocks.
He also mentioned the legal expenses linked to a dispute in China compared to the Neurio brand.
JATCORP said at the time that it “remained focused on the execution of its strategic growth program” and is “prudently optimistic” as to the prospects for the 20126 financial year.
Due to the operational restructuring efforts undertaken during the 201025 financial year, management provides for “improved performance” in the coming year, supported by a “sharp concentration on brand development, expansion of distribution and recovery of margins”.
In the last financial accounts of JATCORP for 2025, the total turnover of the year was $ 34.8 million, down 34% (decrease of $ 17.6 million) in the previous year. Meanwhile, its gross profit was $ 11.4 million, down 41%.
“Jatcorp CEO, Sunny Liang Down Down,” was created and published by Just Food, a brand belonging to Globaldata.
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