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NGS appoint Stephen Turner as CEO

23 February 2023 09:07

Nutritional Growth Solutions is transitioning in a new chief executive, with NGS President of North America Stephen Turner succeeding Liron Fendell at the helm as it continues to expand into high growth markets of the United States.

Holding over two decades of experience in senior roles with multinational health and pharmaceutical companies, it marks the next stage of growth on well-laid foundations with the retail giants of North America.

NGS sales with Walmart have already shown continued growth, overall doubling across the last quarter, and Turner’s strong understanding of science and technical aspects combined with his ability to drive creative and engaging market strategies is set to build on the bedrock with a proven industry record of sales and expansion.

The incoming chief executive said he looked forward to building on strong foundations and applying his experience gained through the years as NGS continue to build momentum with both Walmart and Amazon.

“Through a strategic marketing campaign, we aim to increase the sales velocity which once achieved will likely result in the increase in the number of Walmart stores that NGS’ product are sold in,” Turner said.

“With the confirmed Q3/Q4 placement of our new Healthy Heights Happy Tummies supplement, developed in collaboration with our Walmart merchant, our SKU count for product on-shelf at Walmart increases to 3 items by the end of the year. The additional SKU has the potential to further increase revenue as we continue to expand our retail footprint with Walmart.

“We also will continue to work with Walmart in seeking further opportunities to add more width to our product lines. In addition to Walmart, we also plan to expand the number of regional and national retailers in the US, seeking to leverage our current and ongoing sales success with Walmart.

“We now have a proven sales history with a major US retailer, have demonstrated our ability to support sales velocity and I look forward to building on this momentum. I believe that we have the best product in the market and my intention is to unlock the growth, thereby creating shareholder value.”

NGS chairman Dave Fenlon said Turner had already played a pivotal role in executing the company’s North American expansion strategy.

“With the Company’s focus continuing to shift to the next stage of growth in the US, both the Board and Liron believe that now is the appropriate time for him to step into the role of CEO,” he said.

Turner’s appointment will become effective on the first of March, with outgoing chief executive Liron Fendell remaining on the board as a non-executive director.

NGS’ Australian Stock Exchange-listed share price is currently trading at 2.7c (9.05 am UTC+ 8 hours).

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