Articore launches strategic review as it focuses on the US market
Online marketplace retailer Articore Group will launch a strategic review to maximise shareholder value while shifting its focus to the US market.
In an ASX filing, the company said its board will assess available opportunities through an examination of its capital structure, strategic positioning, and value creation opportunities across the company’s portfolio.
The board will be appointing external advisors to lead this process, maintain independence, and ensure commercial rigour.
“With the majority of our revenue now generated in the US, it is essential that our leadership reflects that reality,” said chair Robin Mendelson.
“We are deliberately shaping a board that brings international perspective, commercial focus, and energised diversity while retaining appropriate expertise for an ASX-listed company,” he said.
Earlier this month, the company announced Vivek Kumar would be taking on the role of group CEO.
“This decision followed extensive consideration and deep confidence in Vivek’s leadership, acknowledging Vivek’s successes as both CEO of TeePublic and subsequently CEO of marketplaces, as well as direct feedback from shareholders seeking change,” said the company in a statement.
“The board was united in its view that a leadership change was necessary to drive improved performance, sharpen strategic focus, and respond to shareholder expectations.”
Kumar will now be focusing on driving material synergies and efficiencies as the company’s two marketplaces come together.
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