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Online cosmetics retailer Adore Beauty (ASX: ABY) CEO Tennealle O’Shannessy has tendered her resignation and will leave the company in February 2023 for a new gig at IDP Education (ASX: IEL).
O’Shannessy will take up the top job of CEO and managing director of IDP once she leaves Adore in 2023, and will support the transition to a new CEO of the e-commerce company in the meantime.
Adore chair Marina Go thanked the outgoing CEO for her contributions to the retailer during “a particularly challenging couple of years”.
“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,” Go said.
“The foundations of our long-term growth strategy are now in place with our mobile app, loyalty program, and first ‘owned brand’ all launched and scaling strongly in a market benefitting from the structural shift to e-commerce, which has seen us increase our active customer base by 90 per cent in two years.”
O’Shannessy, who joined the company last year as the first non-founder CEO in Adore’s history, thanked the ABY team for their support during her tenure.
“It has been a great privilege to work with an exceptionally skilled team whose enthusiasm and hard work have contributed so much to the growth and success of Adore Beauty,” she said.
“I wish to thank all of the Adore Beauty team for their passion, customer focus and dedication.”
Shares in ABY are down 1.83 per cent to $1.34 per share at 11.31am AEST.
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