- MAV Beauty Brands (TSX:MAV) has appointed a new company President and CEO, Tim Bunch.
- The company’s Founder and previous President and CEO, Marc Anthony Venere, will continue to serve as a Director.
- This transition is apparently the result of “new streamlined organisational reporting structure”.
- The new executive structure is expected to support the company’s brand portfolio and improve efficiencies.
- MAV Beauty Brands’ share price is up 1.71 per cent, with shares trading at $4.47 apiece.
Personal care company MAV Beauty Brands (MAV) has changed leadership, due to new streamlined organisational reporting structures.
Tim Bunch has been appointed as the new President and CEO of MAV Beauty Brands.
MAV Beauty Brands’ previous President and CEO, Marc Anthony Venere, founded the company and saw the business grow from one salon to a leading haircare company.
Mr Venere will no longer have day-to-day management responsibilities, but will continue to serve as a Director. He had this to say about the changes:
“I am deeply committed to the company’s long-term success, including by maintaining a significant equity interest. I believe the company’s fundamentals and brands are strong, and the MAV management team can drive results that reflect the business’ full potential.”
The Chair of the company’s board of directors, Chris Elshaw, spoke about the developments that led to this executive transition.
“Since becoming a public company, we have strengthened our leadership team with key appointments of seasoned executives. […] Following the recent acquisition of The Mane Choice, we streamlined our organisational reporting structure to best support our brand portfolio and gain efficiencies.”
“Since joining MAV Beauty Brands in 2017, Tim has played a key role in the organisation. […] The board would like to thank Marc Anthony for his invaluable contributions and congratulate Tim on his appointment as Chief Executive Officer.”
MAV Beauty Brands’ share price is up 1.71 per cent, with shares trading at $4.47 apiece.