RooLife Group makes strategic board changes to pursue further growth
With more than 25 years’ experience in financial management Ye (Shenny) Ruan has joined RooLife’s board as a non-executive director.
RooLife Group (ASX: RLG) has made some strategic changes to its board with Ye (Shenny) Ruan joining the company as non-executive director bringing more than 25 years’ experience in financial management with global companies.
Ms Ruan’s previous roles include chief financial officer of Noble China, managing director of Rabobank China and finance head for Cargill’s starch and metals business units.
Her most recent position was as group chief financial officer and director of Indonesian conglomerate FKS Food and Agri.
While in this role, she covered all aspects of financial and treasury operations and led key strategic initiatives including investor sourcing, debt financing, mergers and acquisitions, and risk management.
Tim Allison steps down
Ms Ruan is replacing Tim Allison who has stepped down from his non-executive director role due to increasing demands from his other professional commitments.
“I am delighted to have been involved and been able to contribute during such an exciting and transformative period for RooLife,” Mr Allison said.
“With increasing demands from my other professional commitments and having regard to the experience and background of Ms Ruan, I feel now is the appropriate time to hand over to others as the company continues its development,” he added.
RooLife chairman Grant Pestell thanked Mr Allison for his significant contribution to the company’s development.
He added he was delighted someone of Ms Ruan’s calibre was joining the board.
Another record quarter
The board reshuffle comes after RooLife posted its third consecutive quarter of record revenue.
Revenue for the June quarter was $3.9 million, which was 15% higher than the March quarter.
Full-year 2021 revenue was an all-time high of $9.6 million – up 182% on FY 2020’s figure of $3.4 million.
The record quarterly and annual performances was attributed to increased product sales to Chinese consumers.
RooLife managing director Bryan Carr said he expects the strong sales performance to continue.