Kathy Cocovski has resigned as CEO of Godfreys, the vacuum cleaner retailer, after just six months in the role.
Godfreys profits have suffered partly because the business missed the move by consumers from barrel vacuum cleaners to stickvacs.
In January, the company, known for its loud television advertisements using a vacuum cleaner to suck up a bowling ball, issued a warning, saying its profit for the full year is likely to be between $4.3 million to $4.5 million compared to $6.4 million last year.
Cocovski, who began her career at Myer in 1978, was appointed CEO in January.
Godfreys shares last traded at $1.05, well down from a 12 month high of $3.14, but above a low of 78 cents in February.
Today, Cocovski resigned and retail veteran and former Godfrey’s senior executive, John Hardy, was appointed interim managing director.
Hardy has more than 50 years experience in retail, with several decades at Godfreys, progressing from the role of door-to-door salesman to sales manager and senior executive.
He has also held senior roles at Barbeques Galore and Super Amart. He was most recently CEO of Fusion Retail Brands which has footwear brands diana ferrari, Mathers, Williams and Colorado.
Hardy was appointed as a non-executive director of Godfreys in March.
Chairman Rod Walker says Cocovski resigned for personal reasons.
“She has made significant inroads in making the fundamental changes Godfreys needs to set a course for improved long term performance,” he says.
“Nevertheless, we are totally confident the leadership of Godfreys is in strong hands with the appointment of retail industry veteran John Hardy as interim Managing Director.”