Much to the delight of its shareholders, the Blackmores Limited (ASX: BKL) share price has made a notably strong gain today.
In afternoon trade the health supplements company's shares are up almost 5% to $91.48.
Why have its shares stormed higher?
This morning the company announced that it has appointed a new CEO following the surprise departure of Christine Holgate.
According to today's release, Blackmores has hired from within, promoting chief operating officer Richard Henfrey to the top job with immediate effect.
Henfrey has served in the COO role for the past three years and has held a number of senior leadership roles within the company since joining in 2009.
Due to his academic qualifications in Natural Sciences and over two decades experience in directing strategy, people, and leading financial transformation, the board believe he is a perfect fit for the business.
Judging by the share price gain today, the market appears to agree.
