Mayank Bansal, CFA
Mayank Bansal is a CFA Charterholder and heads the Equity Research team at Kapitales Research, with over 5 years of experience analysing global equity markets. He leads fundamental, data-driven research combining rigorous financial analysis with macro trends.
Lovisa Holdings Confirms Mark McInnes Will Step Back to Non-Executive Deputy Chairman
Highlights:
Board change disclosed on 16 October 2026
Lovisa Holdings Limited (ASX: LOV) told the market on 16 October 2026 that Mark McInnes will keep his Deputy Chairman title but move to a non-executive role starting 26 October 2026. The jewellery retailer noted that the shift lets the board keep drawing on McInnes’ experience and judgement. The board authorised the release of the notice. This is an adjustment to his duties, not an exit. McInnes keeps the Deputy Chairman seat and remains a non-independent director under the new terms.
Chairman recognises McInnes’ work
Chairman Brett Blundy thanked McInnes for what he delivered to the business while in his executive role and said he was glad to have him continue at board level. Blundy described McInnes’ contribution to Lovisa as valuable and said he was pleased the company would keep benefiting from his experience and judgement as Deputy Chairman. The notice gave no information on other board composition changes, and it did not explain how the move might affect wider management arrangements or the company’s strategy.
Fee paid for his services to be cut
The most notable financial item is the lower annual fee that Lovisa pays to BB Retail Capital Pty Ltd in return for McInnes’ services. From 26 October 2026, that fee will fall from $2,000,000 to $180,000, matching his shift to a non-executive position. The $1,820,000 decrease amounts to a 91% cut. The new fee reflects his altered role. The notice did not say whether any other pay arrangements or board duties would be adjusted at the same time.
Share price
Based on the market data supplied, Lovisa Holdings was trading at AU$24.46, a gain of AU$0.30, or roughly 1.24%. The update gives shareholders certainty about McInnes’ ongoing role and the reduced fee. Investors may wish to watch for later company announcements on board governance or any other organisational developments. The notice also makes clear that McInnes’ non-independent director status will not change after the transition.
Note- All data presented is based on information available at the time of writing.
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