Lark shares rebound after halving following chief executive scandal

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Lark shares rebound after halving following chief executive scandal
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The whisky company boosts its sales and targets foreign markets while searching for a replacement chief executive.

Shares in local whisky group Lark Distilling soared 15 per cent on Monday, easing the rapid decline this year that has halved the company’s market value in light of a drug scandal that engulfed its former chief executive.

Mr Bainbridge owns 4 million shares in the business, giving him a 5.4 per cent stake worth $11.9 million, down from the $18.4 million the shares were worth prior to the scandal. Lark said in the Sunday update that it has begun to look for a new CEO and hoped to identify an executive with experience in global distribution to fuel its strategy to expand beyond Australia.

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