Baby Bunting is on the hunt for a new CEO & managing director, as the current leader Matt Spencer plans to step down this year after more than 11 years in the role.
The Board, with the assistance of search firm Derwent, is aiming to identify a new successor that can build on Spencer’s legacy.
Baby Bunting Chair Melanie Wilson said Spencer, who became CEO in February 2012, would leave behind an enduring legacy.
“Matt has led Baby Bunting with distinction throughout his term,” Wilson said. “He joined Baby Bunting in the years before its IPO and led the team that successfully listed Baby Bunting in October 2015.
“At that time, the store network consisted of 33 stores with around $200 million in annual sales. That has grown to 70 stores in Australia and New Zealand and annual sales in excess of half a billion dollars.
“Matt and his team have executed on the Company’s strategy to grow market share while also focusing on the Company’s core purpose to support new and expectant parents.”
Spencer said he will continue as CEO & MD providing leadership and continuity until the appointment of a successor, to ensure a smooth transition.
“It has been a hard decision, but I believe now is the right time to commence the transition as Baby Bunting moves into its next phase of growth,” he said.
“It has been incredibly humbling to be part of the Baby Bunting team over the past 11 years. I have loved coming to work each and every day.
“I am confident in the future of the Company in the hands of a very experienced and well-respected leadership team.”