Wellnex Life joint CEO resigns

(Sharecast News) - Wellnex Life said on Friday that joint chief executive and managing director George Karafotias has resigned as CEO and director, effective immediately from the board, though he woud serve a three-month notice period to provide handover support. Zack Bozinovski, who had shared the CEO and MD roles since Karafotias's appointment in July 2021, would become sole CEO and MD with no change to his current employment terms.

"On behalf of the board, I would like to thank George for his contributions to the company since July 2021," said acting non-executive chair Andrew Vidler.

"George has provided valuable support and efforts on various corporate transactions the company has undertaken.

"We wish him the very best for his future endeavors."

Under a loan agreement with the company, Karafotias had provided a $0.71m director loan, which Wellnex had agreed to repay in full, plus accrued interest, within 90 days of his resignation.

Reporting by Josh White for Sharecast.com.