Redbubble’s non-executive Director Jennifer Macdonald has announced her intention to resign next month.
Redbubble has announced that non-executive Director Jennifer (Jenny) Macdonald has advised of she will resign from the Board after the Group’s upcoming AGM on 24 October 2023.
Ms Macdonald has been on the Board of Redbubble Limited since February 2018, and became Chair of its Audit, Risk and Compliance Committee in October 2019.
Jenny Macdonald said, “It has been a pleasure to serve on the Redbubble Limited Board for the past five years. After reviewing my workload in light of new commitments, I have made the difficult decision to step down. I remain confident in the long-term potential of the Group and will continue to offer my support from the sidelines.”
Anne Ward, Chair of Redbubble Limited, said, “On behalf of the Board, I would like to thank Jenny for her service, particularly as Chair of the Audit and Risk Committee. Over the past five years, the Group, and its operating environment, have evolved significantly and Jenny has played an important role in helping us navigate this challenging period.”
Redbubble has had a tumultuous past couple of years as it navigated a lull in demand, major staffing cuts, and a series of leadership changes.
In January, Redbubble reduced it workforce by 14 percent in an attempt to cut costs, in May it announced a further 23 percent reduction.
Although the year saw Redbubble report a series of revenue losses, the company successfully reduced operating expenditure by approximately $45 million on an annualised basis in making the job cuts and a series of other operational changes.
“The Board has started a formal process to identify suitable candidates to replace Jenny, and to accommodate further changes to the Board, through an orderly process of renewal, without disrupting the recent progress that has been made to return the Group to profitability. We are looking for directors with the necessary financial acumen, as well as experience in online marketplaces and discretionary retail,” said Anne Ward, Chair of Redbubble Limited.
The announcement also noted there is an intention that another long-standing Director will also step-down during FY24, as part of an orderly Board renewal process. It did not name this Director.