Comment: A2 Milk wanted a change agent but was rattled by Hrdlicka's speed | EKnightOfficial
The sudden departure of a2 Milk chief executive Jayne Hrdlicka has shocked investors but the discord between her and the board made continuing in the job almost impossible.
Hearn spent the morning speaking to investors who have strongly supported the company’s share price since the annual meeting in November when its guidance was for an EBITDA margin of between 31 per cent and 32 per cent in the first half of 2020 and slightly lower for the full year. Equally, shareholders were clearly disappointed with the full-year 2019 earnings presented by Hrdlicka in August, when she warned that the marketing ramp-up would result in EBITDA margins falling from 31.7 per cent in 2019 to about 28 per cent in 2020.
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