Lovisa Holdings Limited announced that the board is currently well advanced in the appointment of a new independent nonexecutive director to replace Paul Cave. The company also has announced that after 2 years in the role, Michael Kay will be stepping down as a director and Chairman of the company, effective from the October 31, 2018. The company announced that Co-Founder and substantial shareholder Brett Blundy will now join the board. To date, Brett has been appointed as an alternate director to Tracey Blundy and will assume the role of Chairman effective November 1, 2018.