IN BRIEF: Wellnex Life names new interim chair as search continues

Wellnex Life Ltd - Melbourne-based consumer healthcare products company - Appoints Non-Executive Director Eric Jiang as interim executive chair, effective immediately. Ash Vesali transitions to role of non-executive director, having served as interim executive chair for an agreed six-month period. Wellnex says that its search for a permanent chief executive officer, which it started in late October, is at an advanced stage and that it will provide an update in due course. Adds that it executed a strategic turnaround to make its operating model leaner and more efficient under Vesali’s leadership, the early benefits of which include ‘improvements to capital management governance and consolidation of the company’s product portfolio’. Says it acknowledges Vesali’s ‘significant contributions’ and its ‘effective progress’ during his tenure.

Vesali comments: ‘I am very pleased with the collective progress achieved over the past six months. Following my independent review of the company, I was invited to join the board to lead a turnaround mandate. This involved strengthening capital management governance and consolidating the product portfolio, which has delivered clear results. I look forward to continuing to serve on the board as a non-executive director and contributing to the company’s ongoing progress.’

Current stock price: 8.40 pence

12-month change: down 73%

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