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DUSK GROUP LIMITED — Board/Management Information 2023
Jun 18, 2023
64788_rns_2023-06-18_434a5a8d-664d-42ea-a00a-bad403c87d92.pdf
Board/Management Information
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19 June 2023
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ASX Release
Update on CEO Transition
dusk Group Limited (‘dusk’, ASX: DSK) today provides an update on the CEO transition.
As foreshadowed in our announcement of 25 January 2023, current CEO and Managing Director Peter King will step down from his role on 19 July 2023 following the completion of his six-month notice period.
As an interim step, dusk Chairman John Joyce will be appointed Executive Chairman effective 3 July 2023 and will take on the CEO responsibilities until incoming CEO and Managing Director Vlad Yakubson joins the Company, which is scheduled for 24 October 2023.
John Joyce is an experienced retail leader with a strong track record over 30 years including as CEO at Rebel Group and Managing Director of ALDI Stores Australia.
A summary of the Key Terms of the Agreement between dusk Group and John Joyce for the role of Executive Chair are shown below.
Summary of Key Terms of Agreement for Executive Chairman
| Name | John Joyce |
|---|---|
| Position | Executive Chairman |
| Commencement Date | 3 July 2023 |
| Term | Until commencement of Vlad Yakubson as CEO and Managing Director in October 2023. Either party may terminate the arrangement on 5 days’ notice. |
| Roles and Responsibilities | John Joyce will take on the day-to-day responsibilities of the CEO. |
| Remuneration | The appointment is structured as a short-term contract. John Joyce’s remuneration as Executive Chairman will be $2,500 per day worked (inclusive of superannuation). Our expectation is that John will work ~4 days per week (on average) throughout the contract period. This day rate is an addition to John’s existing remuneration arrangements as Non-Executive Chairman of the Company. No variable incentives are payable to the Executive Chairman. |
| Cessation of Executive Chair role |
John Joyce is expected to return to his position of Non-executive Chairman when Vlad Yakubson commences with dusk Group. |
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The release of this announcement was authorised by the Board of Directors of dusk Group Limited.
Media & Investor Enquiries
Françoise Dixon [email protected] +61 (0) 412 292 977
About dusk
dusk is an Australian specialty retailer of home fragrance products, offering a range of dusk branded premium quality products at competitive prices from its physical stores and online store. dusk’s product range is designed in-house and is exclusive to dusk. dusk has grown to become the leading Australian omni-channel specialty retailer focused on home fragrance products. The product offering comprises candles, ultrasonic diffusers, reed diffusers and essential oils, as well as fragrance related homewares. Our goal is to be our customers’ preferred destination for home fragrance products and for their gifting needs – including personal indulgences and ‘gifts for oneself’.
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