David Bortolussi has been announced as the new CEO for The a2 Milk Company. He will start in early 2021.
The a2 Milk Company chair David Hearn said Bortolussi’s experience at leading companies through major growth and all that entails secured the offer.
“The a2 Milk Company is going through a period of continued strong growth in dynamic markets and David’s skillset and comprehensive strategic and operational experience will serve the company well. I am looking forward to working with David as we navigate these challenges together with the board and management team,” Hearn said.
Bortolussi has been HanesBrands group president International Innerwear since 2016, when the company acquired Pacific Brands. Bortolussi had been with Pacific Brands since 2009, initially as chief financial & operating officer before becoming CEO in 2014.
During that time he led a company restructure into a brand focused, omnichannel retailer delivering double digit compound annual growth in sales and earnings over the past five years.
Bortolossi said he was looking forward to joining the company. “The team at a2 has created a very distinctive consumer proposition, amazing brand and strong culture with so much potential. I’m thrilled to have the opportunity to lead such a talented and experienced team, and to be part of the next phase of growth.”
In 2019, a2 Milk rose five places in the Food & Drink Australia’s Top 100 Food & Drink Companies report, from #31 to #26, having recorded a 41.25 per cent revenue increase on 2018, up $382 million to $1.3 billion.
Jayne Hrdlicka resigned as managing director and CEO in December last year, saying the reality of the company’s growth trajectory meant the role would be “too difficult” to manage with her other commitments. Hrdlicka is president of Tennis Australia.
Former CEO Geoffrey Babidge returned to the business as interim CEO. He will stay in the role for the next six months as Bortolussi has a six month notice period with HanesBrands.
In April the company revised projections, anticipating ongoing revenue growth across its key regions. Its FY20 outlook is now in the range of NZ$1.7-1.75 billion, as the company confirms its 3Q20 results were “above expectations”.
