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Koala co-CEO leaves Australia’s “comfier furniture” after short stint

Koala co-CEO leaves Australia’s “comfier furniture” after short stint

Eight months after Koala celebrated industry expert Melissa Fahey joining the international furniture retailer, she vacates her office. 

In November 2022, Koala announced its new strategy to split responsibilities among two CEOs as it aimed to be listed on the Australian Securities Exchange, reported the Financial Review.

It also reported that stockbroker Ord Minnett had told its clients in 2022 that Koala could be a “potential public offering” with a revenue income of $175 million. 

How Fahey changed her tune in 8 months

Announcing her new position earlier this year, Fahey said she “fell in love” with the company brand long ago and closely followed the business’ growth journey over the last seven years. 

“When the chance to work alongside Mitch Taylor (founder and CEO) and the Koala team came about, I leapt at the opportunity to contribute to growing a unique Australian business with global ambitions to disrupt how people experience furniture,” she said. 

Fahey describes herself as an executive with a “growth mindset” and a “strong reputation in driving business growth and transformational change.” 

However, she fell short of doing that during her short stint at Koala. But it was not due to a lack of experience. She has many capabilities and expertise in technology, e-commerce, retail, and others. 

Fahey showcases her work on LinkedIn, stating that she is “highly resilient” and “thrives in high-growth, fast-paced industries.” It’s unclear why she left Koala less than a year later, when she was hoping to steer the company into better profits and possible listing.

Growth focus plan

When Fahey joined earlier this year, a spokesperson at Koala told a local newspaper, “The key immediate focus for Mitch and Melissa is to lead Koala through its next phase of growth.”

This month, she told the Australian Financial Review that she enjoyed working with Koala, which was in a “very strong position.” 

Fahey stopped short of explaining why she was departing the business after such a short period. 

Locate2u has contacted Koala’s media team and is still awaiting a response. 

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