Bubs Australia Taps US Dairy Veteran for Top Job
Bubs Australia Limited (ASX:BUB), a prominent provider of premium infant nutrition products, has announced the immediate appointment of Mr. Joe Coote as its new Chief Executive Officer. This strategic leadership change is aimed at bolstering the company’s domestic and international growth ambitions, particularly within the competitive market for goat milk-based formula and other clean-label options. The appointment signals a clear intent to leverage deep dairy industry expertise to expand the company’s market footprint.
Mr. Coote brings an impressive two decades of leadership experience across the FMCG, dairy, and infant nutrition sectors. His most recent role was as CEO of Darigold, a major dairy cooperative in the USA, demonstrating his extensive knowledge of large-scale dairy operations and market dynamics. Prior to this, he held senior positions at Fonterra, including President, Fonterra Americas, overseeing significant regional sales and distribution.
The company’s Chair, Katrina Rathie, expressed strong confidence that Mr. Coote’s extensive background will be instrumental in creating shareholder value and executing the company’s global expansion strategy. Mr. Coote’s remuneration package includes a fixed annual salary of $750,000 AUD, along with eligibility for performance-based short-term and long-term incentives, aligning his interests with the company’s growth objectives.
The board also acknowledged the contributions of outgoing CEO Reg Weine, who steps down after two years. During his tenure, Weine oversaw Bubs’ transformation into a profitable, global player in the infant nutrition market. He noted that the company is now at an opportune moment for new leadership to take the reins and remains a committed shareholder, indicating a smooth transition and belief in the company’s future direction.
For the international dairy community, agribusiness analysts, and infant nutrition manufacturers, this appointment is a significant development. It highlights the increasing focus on securing top leadership talent with specific experience in dairy economics and global market expansion. The move positions Bubs to capitalize on the growing demand for specialized dairy-based nutrition products, reinforcing the critical link between seasoned dairy leadership and success in the competitive global food sector.
