Wellnex Life Limited (ASX/AIM:WNX), a consumer healthcare business focused on developing, licensing, and marketing healthcare products, has announced the resignation of its joint Chief Executive Officer & Managing Director, Mr George Karafotias, effective immediately as a director. Mr Karafotias will remain with the company for a three-month notice period to assist with the transition. During this period, he will provide handovers to ensure operational continuity.
The company’s other joint CEO & Managing Director, Mr Zack Bozinovski, will remain in his position and assume the responsibilities of sole CEO & Managing Director. According to the announcement, Mr Bozinovski’s employment terms, including remuneration, will remain unchanged.
Acting Non-Executive Chair Mr Andrew Vidler acknowledged Karafotias’ contributions since July 2021, citing his valuable support in corporate transactions. The company wishes him well in his future endeavors. Wellnex Life has agreed to repay Mr. Karafotias a director loan of $705,000, plus accrued interest, within 90 days of his resignation, in accordance with the existing loan agreement.
The announcement was authorised for release by the Board of Wellnex Life Limited.
