NAKD Stock: Over 14% Increase Intraday Explanation

By Amit Chowdhry ● April 19, 2021
  • The stock price of Naked Brand Group Ltd (NASDAQ: NAKD) increased by over 14% during intraday trading. This is why it happened.

The stock price of Naked Brand Group Ltd (NASDAQ: NAKD) – a global leader in intimate apparel – increased by over 14% during intraday trading. Investors appear to be responding positively to Naked Brand announcing the appointment of Mark Ziirsen to the position of Chief Financial Officer, replacing Cheryl Durose.

Ziirsen has extensive experience with public company finance as a corporate officer and audit committee member. And his executive career spans senior finance leadership roles with major ASX listed companies such as Cochlear, Aristocrat, Coca-Cola Amatil and Goodman Fielder. 

Currently, Ziirsen serves as a non-executive director and chair of the Audit and Risk Committee of Opyl Limited, an ASX-listed AI technology business focused on life sciences. Previously, Ziirsen was non-executive director and chair of Respiri Limited, an eHealth SaaS company, and non-executive director and chair of the Audit and Risk Committee of Orcoda Limited, a SaaS-based technology company. And Ziirsen commenced his career with EY, working in business advisory, tax and management consulting. 

Ziirsen’s most recent executive roles include Chief Financial Officer and company secretary for Wiseway Group Limited (who he successfully led through an IPO and listing on ASX) and Chief Financial Officer of Anteris Technologies Limited. Prior to this, Ziirsen was Director of Finance and IT for Asia Pacific at Cochlear. He has a strong track record of delivering growth and improvement across multiple industry sectors including medtech/health, technology and consumer, and geographies across the Americas, Europe, and Oceania. Plus Ziirsen has also worked extensively in Asia for more than 25 years.

KEY QUOTE:

“On behalf of our board and management team, I would like to thank Cheryl for her service and contributions. We welcome Mark to the position and are privileged to have someone of his caliber and financial skill set serve as our Chief Financial Officer. His strong finance and operations credentials are complemented by extensive strategy, M&A, corporate finance, investor relations, risk management and governance expertise. Much of Mark’s work has involved guiding high growth companies, which will be instrumental for the rapid acceleration of our e-commerce business and digital transformation. His M&A expertise will add significant value as we continue to pursue accretive acquisitions of high growth and cash flow positive businesses and invest in next generation technology.”

— Justin Davis-Rice, Naked’s Chief Executive Officer

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.