Question

If you were an investor, what are your expected impacts of the announcement of a new CFO on the share price (up or down, good news - bad news) and justify your arguments.

Full Announcement

Blackmores Limited (ASX:BKL) today announced that Mr Aaron Canning will transition from his current role as Chief Financial Officer next month to focus on a review of the Group's portfolio. Mr Gunther Burghardt will join Blackmores, effective 6 January 2020, as the new Group Chief Financial Officer. “Aaron has been a core member of the Executive Team over the past five years and played a key role enabling our unprecedented growth during this period," said Blackmores Group Chief Executive Officer, Mr Alastair Symington. “This experience will be invaluable as we progress the next phase of our Group strategy. I would like to personally thank Aaron for the contribution he has made to Blackmores in his time as CFO." “It is always important to have a proactive approach to succession planning and we are very pleased to welcome Gunther Burghardt to the role of Chief Financial Officer," said Mr Symington. Gunther is a proven finance and business leader with a 26-year career in the consumer goods and food and beverage industries. He has had a diverse global career leading teams in finance and information technology, and also commercial and operations functions. He was most recently Executive Vice President, Operations at Treasury Wine Estates (TWE), based in California, USA. At TWE, Gunther has held various senior finance roles in Asia, Eastern Europe and Oceania, including CFO of every region of the global marketing function and supply chain. Prior to working at TWE, Gunther held senior roles at Mondelez International (formerly Kraft Foods), Reckitt Benckiser and Procter & Gamble. "Gunther understands the challenges of growing global businesses with complex routes to market,” said Alastair Symington. “His financial, operational and commercial experience will be an asset to our Executive Team and we look forward to welcoming him next month."