Adore Beauty's CEO, Tennealle O'Shannessy, is stepping down from her role. She joined the company in August 2020, shortly before the retailer filed for its IPO in October 2020.
O’Shannessy is moving on as CEO and MD of IDP Education Limited (ASX:IEL). She will remain as CEO of Adore Beauty until February 2023.
The news came in the form of an ASX announcement when Adore Beauty’s Chair of the Board, Marina Go, shared the news.
“On behalf of the Board and all of the Adore Beauty team, I would like to thank Tennealle for her outstanding leadership and contribution during a particularly challenging couple of years,” the announcement read.
“As CEO, Tennealle has done an excellent job delivering Adore Beauty’s financial and operational successes, including exceeding all Prospectus forecasts, and leaves the business well-positioned for future growth.”
The beauty retailer is currently in search of its new CEO, assisted by Board advisor Egon Zehnder.
“It has been a great privilege to work with an exceptionally skilled team whose enthusiasm and hard work have contributed so much growth and success of Adore Beauty,” said O’Shannessy. “I wish to thank all of the Adore Beauty team for their passion, customer focus and dedication.”
Adore Beauty’s shares shed 4.61 percent today, dipping further when the news broke. The shares have shed 7.46 percent over the last five days, and are currently sitting at $1.36 per share.
The e-commerce landscape is changing. With a Power Retail Switched On membership, you get access to current e-commerce revenue and forecasting, traffic levels, average conversion rate, payment preferences and more!