- Health and wellness company Fiji Kava's (FIJ) Founder and Managing Director, Zane Yoshida, will step aside as the company looks for a new CEO
- The company has begun a global recruitment process for a new Chief Executive to lead FIJ in 2021
- In the meantime, Non-Executive Director, Nicholas Simms, will act as interim CEO
- Fiji Kava said Nicholas has extensive knowledge of the business, joining the company board in September 2019
- Zane believes after ten years at the helm, this is the right move for Fiji Kava
- On the market this morning, Fiji Kava is down 2.13 per cent, with shares worth 23 cents each
Health and wellness company Fiji Kava's (FIJ) Founder and Managing Director, Zane Yoshida, will step aside as the company looks for a new CEO.
Fiji Kava is on the hunt for a new CEO in 2021 as it commences a global recruitment process. In the meantime, Non-Executive Director, Nicholas Simms, will step up as interim CEO.
Fiji Kava said Nicholas has extensive knowledge of the business, joining the company board in September 2019.
Zane will remain a Non-Executive Director at FIJ and will focus on his roles in the international kava industry. He will also keep his chairmanship of the company's Fiji subsidiary, and join the board of its U.S. subsidiary, Fiji Kava Inc.
Today, Fiji Kava said the transition reflects the company's need for the next generation of leadership, recent key developments in the Kava Industry and its global regulatory acceptance.
Zane believes after ten years at the helm, this is the right move for Fiji Kava.
"With Fiji Kava now well-established on the ASX, this is an appropriate moment for a transition to occur, as I look to take on a more active and leading role in the kava industry during a period of strong international growth," Zane told the market on Monday.
Chairman Andrew Kelly said Zane is an instrumental figure — not just for the company — but as a leader and advocate for the kava industry globally.
"He has played an active role in progressing numerous initiatives to improve kava
standards and to build confidence in kava as an export commodity," he said.
"At this critical time, the board sees huge value in Zane having a more prominent and influential seat at the table in these discussions to create new opportunities for the global kava industry," he added.
Andrew did point out Fiji Kava is lucky to have someone like Nicholas to fufil the role for the time being.
"He has extensive knowledge of the company and has already made a material
difference to Fiji Kava in accelerating our growth in both domestic and international markets. He has a proven track record at Bubs Australia and as a consumer goods specialist, giving us great confidence as we continue to execute on our strategy," he added.
Nicholas believes it's exciting times ahead for the company and has confidence in the international opportunity for noble kava.
"These are incredibly exciting times for Fiji Kava and I look forward to working closely with team and the Board to progress our strategy and to maximize the vast commercial opportunities which exist in the short and long term," he said.
On the market this morning, Fiji Kava is down 2.13 per cent, with shares worth 23 cents each at 10:09 am AEDT.