Geoff Bainbridge has stepped down, with immediate effect, as CEO of Lark Distilling after an explicit video was published by The Australian.
The company issued a statement to the ASX today, stating that Bainbridge had tendered his resignation “effective immediately to enable him to manage a personal matter that was brought to the attention of the Board on the afternoon of 15 February 2022”.
Current Non-Executive Director, Laura McBain, has assumed the role of interim Managing Director, with fellow Directors David Dearie and Warren Randall continuing as Chair and Non-Executive Director immediately.
The video, which The Australian published on its website earlier today appears to show Bainbridge smoking from a glass pipe.
Lawyers acting for Bainbridge told The Australian: “[He] is the subject of a continuing, sophisticated and recently intensified extortion attempt by persons overseas using manipulated unverified images.
“The attempted extortion of Mr Bainbridge commenced years before he had any involvement in Lark Distillery; and Mr Bainbridge has sought the assistance of London-based professionals with the extortion attempt.”
In December 2021 Lark commenced a global search for a new CEO and the company said this process will now be accelerated and led by McBain and the Board.