Australian milk powders business Jatcorp has revealed its CEO and director Sunny Liang, has resigned from the business after just 18 months at the helm.
He steps down from his position with immediate effect.
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In ASX announcement today (3 September), the company confirmed executive director Dr Sean Li has taken on the CEO position until a permanent replacement is found.
The firm noted that Liang had agreed to remain with the company during his three-month notice period to assist with the transition process to a new CEO.
“The company sincerely thanks Mr Liang for his leadership of Jatcorp, and [the] strengthening of it during his time at the company,” Jatcorp said in the stock exchange filing.
Liang was first appointed as CEO at the consumer goods company in January 2024, after previously being COO and executive director.
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By GlobalDataPrior to working for Jatcorp, Liang spent more than a decade in the export industry, specifically focusing on infant formula, as well as health supplements and other areas relating to cosmetics and personal care, according to the company.
The CEO shift follows Jatcorp’s issuance of a profit warning for the 2025 fiscal year in July, due to revenue declines and impairments.
The Sydney-headquartered company said in a stock exchange filing at the time that it expected to book a net loss of A$7.6m to A$8m ($5m to $5.2m) for the 12 months to the end of June.
That is based on an anticipated second-half loss of A$1.5m to A$1.9m, on top of the A$6.1m loss registered in the first six months of the fiscal year.
Jatcorp said the projected loss was due to “revenue contraction”, an impairment at its subsidiary Sunnya Goodwill, and inventory write-downs.
It also mentioned legal expenses related to a dispute in China over the Neurio brand.
Jatcorp said at the time that it “remains focused on the execution of its strategic growth agenda” and is “cautiously optimistic” about the outlook for FY2026.
Due to the operational restructuring efforts undertaken in FY2025, management expects “improved performance” in the year ahead, supported by a “sharpened focus on brand development, distribution expansion, and margin recovery”.
In Jatcorp’s latest financial accounts for 2025, total revenue for the year was $34.8m, down 34% (decrease of $17.6m) on the previous year. Meanwhile, it’s gross profit was $11.4m, down 41%.
