Australian retailer Baby Bunting has commenced a board succession, with chair Melanie Wilson stepping down after nine years on the board.
Wilson is expected to leave the role following the release of the group’s first half results scheduled for February 18, 2025. This comes after serving as chair since October 2021, and being on the board since February 2016.
Following her exit, non-executive director Stephen Roche will become the new chair in a unanimous decision by the board.
“Being chair of Baby Bunting has been a privilege and I thank all shareholders, customers and team members for the trust they have placed in me during my time on the board.
“The group is well positioned, and I have every confidence in the ability of the board under Stephen’s leadership and the great management team under our CEO, Mark Teperson, to see Baby Bunting execute on the group’s strategy.
“I look forward to watching the group continuing its positive momentum over the coming years under Stephen and Mark’s leadership.”
Roche brings over 15 years of experience as a director of public companies and not-for-profit enterprises.
His leadership background includes serving as managing director and CEO of Australian Pharmaceutical Industries Limited and more recently as managing director of Bridgestone Australia and New Zealand, including a period as Vice Chair of Bridgestone Asia Pacific Pte Ltd.
Roche is currently a non-executive director of GWA Group Limited and a director of the Adelaide Football Club.
“Melanie Wilson has led the group as it navigated significant challenges during and following COVID,” chair-elect Roche said.
“Under her leadership, the board has transitioned to a new CEO, Mark Teperson, and has established a strategy to return Baby Bunting to growth. “Melanie has the board’s thanks and appreciation, and we wish her all the best in her future endeavours.”
Roche added that Baby Bunting is a leading specialty baby goods retailer, with an online presence and 75 stores across AU/NZ.
“We are now facing a $6.3 billion opportunity and our strategy of growing market share, EBITDA and return on invested capital is delivering results.”
Wilson’s exit comes as Baby Bunting prepares to capitalise on the soft goods market, which includes clothing and footwear.
At its AGM in October, Wilson said Baby Bunting holds around 10 per cent of the $5.2 billion opportunity in Australia and “is a clear market leader in the hard goods space.”
“While we will continue to strengthen our position in sectors including car seats, prams and cots & furniture, there is substantial opportunity for growth in the soft goods market, which typically offers higher margins and allows for more frequent transactions with consumers,” Wilson had said.
Baby Bunting currently sells a wide range of babywear, kids clothes and maternity wear.