FIJI KAVA FOUNDER STEPS ASIDE
Health and wellness company Fiji Kava’s (FIJ) Founder and managing director, Zane Yoshida, will step aside as the company looks for a new chief executive officer.
In the meantime, non-executive director, Nicholas Simms, will step up as interim CEO.
Fiji Kava said Mr Simms had extensive knowledge of the business, joining the company board in September 2019.
Mr Yoshida remains a non-executive director at FIJ and will focus on his roles in the international kava industry.
He will also keep his chairmanship of the company’s Fiji subsidiary, and join the board of its US subsidiary, Fiji Kava Inc.
Fiji Kava said the transition reflected the company’s need for the next generation of leadership, recent key developments in the Kava industry and its global regulatory acceptance.
“With Fiji Kava now well-established on the ASX, this is an appropriate moment for a transition to occur, as I look to take on a more active and leading role in the kava industry during a period of strong international growth,” Mr Yoshida told the market.
Chairman Andrew Kelly said Mr Yoshida was an instrumental figure — not just for the company — but as a leader and advocate for the kava industry globally.
“He has played an active role in progressing numerous initiatives to improve kava standards, and to build confidence in kava as an export commodity,” he said.
“At this critical time, the board sees huge value in Zane having a more prominent and influential seat at the table in these discussions to create new opportunities for the global kava industry.”
Mr Simms believes it’s exciting times ahead for the company and has confidence in the international opportunity for kava.
“These are incredibly exciting times for Fiji Kava and I look forward to working closely with team and the Board to progress our strategy and to maximise the vast commercial opportunities which exist in the short and long term,” he said.
On the market yesterday Fiji Kava was down 2.13 per cent, with shares worth 23 cents each at 10:09 am AEDT.