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A2 rings in more executive changes under new CEO Hrdlicka

Monday 10th December 2018

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A2 Milk Co chief executive Jayne Hrdlicka's executive team is going through more changes as two senior managers depart - one for early retirement and one to pursue another opportunity. 

Long-serving executive Simon Hennessy, who is currently general manager international development, will take early retirement. Relative newcomer Michael Bracka, who heads business development in emerging markets, will leave this month to pursue another opportunity, the company said. 

Hennessy, who joined A2 from Freedom Foods, had been running the day-to-day British operations during the transition of current UK general manager Simon Vice, and Bracka had been leading the company's China team. A new Shanghai-based executive announcement will be made soon. 

Their departures are the latest as Hrdlicka firms up her senior leadership team, having taken over the reins of the milk products marketing firm in July. The former Jetstar head last month hired ex-Qantas Airways executive Lisa Burquest in the newly created role of human resources director. 

Other changes to the senior leadership team this year include UK and Europe chief Scott Wotherspoon's departure in August. Chief scientific officer Andrew Clarke became science advisor to the CEO in May. 

Hennessy was among A2 executives who cashed in some of the company's share price gains in March this year, selling 400,000 shares for $5.6 million. In August he paid $252,000 to exercise 400,000 options which he went on to sell for a further $4.7 million. That left him with 800,000 options and 300,000 shares. 

Bracka, who joined A2 last year, was one of the few executives to buck the trend in March, buying 25,000 shares for $324,000, lifting his holding to 261,500 shares with a further 86,000 performance rights.

A2 shares last traded at $11.02 and have climbed 37 percent so far this year. 

(BusinessDesk)

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