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Trilogy Natural Products Has New CEO

Trilogy Natural Products’ Managing Director to become Trilogy Group CEO

Trilogy International (NZX: TIL) announced today that Angela Buglass, currently Managing Director of its Trilogy Natural Products division, will become Group CEO, effective 1 July 2015.

A New Zealander, Angela returned to New Zealand to join Trilogy in 2014, following a successful international career in the beauty and skincare industry, including senior roles for industry heavyweights including Estee Lauder and L’Oreal Group.

Trilogy Chairman, Geoff Ross, said Angela’s appointment - initially to head the Trilogy brand and now to assume the Trilogy International Group CEO position - is intended to support the growth of Trilogy International’s key brands in international markets. She is a returned kiwi expat with global ambitions for the brand.

Trilogy’s business performance has been strongly increasing, with the company issuing a profit update on 11 March 2015 to signal net profit growth of more than 300% - more than $4 million - for the financial year ending 31 March 2015.
“With the New Zealand and Australian markets both performing well and profitably now, our strategy is around pursuing growth in our key international markets, including the UK, Asia and the United States,” said Ross.

“We see an opportunity to leverage Angela’s direct, hands-on experience growing brands in these markets, and feel she will now be best positioned to achieve this from the CEO’s chair.”
Angela initially stood out after the Board conducted a global search within the skincare and cosmetics industry in 2014. “We were looking for a world-class candidate to lead the Trilogy Natural Products brand into the next stage of its growth and development,” Ross said.

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“In Angela, we found someone with an established track record in building world-class brands of scale in the markets of most interest to us.

“That she is also a passionate New Zealander who shares our belief in the opportunity for quality New Zealand brands to compete and succeed on a world stage against the big players, was an added and welcome bonus.

“Since joining our business - initially as MD of Trilogy - Angela has quickly demonstrated the value of her international industry experience, as well as her broader business acumen and natural leadership skills. We believe the Ecoya brand will also benefit from her stewardship.”

Ross said the company owes much to current CEO, Stephen Sinclair, who has guided the business into profitability in his tenure as CEO, as well as spearheaded key initiatives including the distribution agreement with MCP in Australia that has materially lifted performance in that market.

“Steve has led the business since October 2012 to the point we are now able to pursue new opportunities from a position of strength,” Ross said.

“We are extremely fortunate that we will be able to retain Steve in an executive capacity through a transition period (initially six months), during which he will continue to focus on some key commercial and operational areas, as well as support Angela’s transition. This is ideal.”

Alongside these changes, Sarah Gibbs – one of the original founders of Trilogy, has signalled her intention to resign from the Board after 3 years, although has advised the Board that she has no intention to reduce her shareholding at this time (currently 5.19%).

Ross thanked Ms Gibbs for sharing her experience, drive and energy as a member of the Board. He also acknowledged her vision, courage and hard work to establish the Trilogy brand and business from scratch in 2002 as one of its founders.

“Sarah is one of the great New Zealand entrepreneurs.

“She, along with her sister Catherine de Groot, built a very good business around a range of high quality products which are proving to be world-class. This is a fantastic achievement.

“On behalf of the Board I’d like to thank Sarah sincerely,” Ross said.

Ends.

© Scoop Media

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