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Blackmores is looking for a new leader after his Australian boss has resigned



During his time at the vitamin manufacturer, he had "become a personal friend and I know that friendship will continue," said Mr. Blackmore, the largest shareholder in Blackmores and his former chairman.

On the highest executive front, Blackmores has reduced the number of candidates to four, two of whom are international candidates. Two of the contenders are women, Blackmore said.

We are too fat, we are too bureaucratic, we are too complex and we do not make decisions quickly enough. And we must tackle those things.

Marcus Blackmore, interim CEO of Blackmores

"We haven't made an official offer for anyone, but we're actually on the last four of the original list of about 25 or so," he said. Blackmores plans to fill the CEO position before finding a successor to Mr. Fenlon, with Blackmore acting as interim CEO until a new CEO is appointed.

Mr. Blackmore said it was "very disappointing" that Mr. Fenlon left, acknowledging that the executive was ambitious, had strong family ties in Melbourne, and was on the board of BWX.

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Mr. Fenlon would not be attracted by the fact that he left Blackmores because of an impediment to the top job, but said he had a strong relationship with Mr. Blackmore, calling for his decision to "bittersweet".

Blackmore, the son of the company founder Maurice Blackmore, said the company is undergoing major changes, with the priority of becoming much more efficient.

"We are too fat, we are too bureaucratic, we are too complex and we don't make decisions fast enough and we have to deal with those things," he said.

The company plans to make $ 60 million in savings over three years. The shares in Blackmores fell by 1.6 percent shortly after 3:00 p.m. to $ 88.03.


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