CEO Tennealle O’Shannessy will now head up ASX-listed IDP Education.
shares had a wild day of trade on Thursday, after chief executive Tennealle O’Shannessy flagged her departure late on Wednesday after markets closed.
The stock has lost about 72 per cent of its value over the past 12 months, and the company was cut from the SChairwoman Marina Go said Ms O’Shannessy has done an excellent job delivering Adore Beauty’s financial and operational successes, including exceeding all prospectus forecasts, and leaves the business well-positioned for future growth.
UBS analysts have a ‘buy’ on the stock recently saying that Adore’s strengths are its wide product range, with a focus on the growing skincare category; strong online capabilities; and, content-rich, differentiated customer engagement strategy. “We believe these market fears are now more than priced in, and see an attractive medium-term opportunity for Adore,” they said in a note.
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