Sigma CFO departs amid restructure effort
Sigma Healthcare is searching for a new chief financial officer after the resignation of Iona MacPherson amid the Amcal and Chemist King owner's ongoing restructure.
Ms MacPherson departs the company by mutual agreement immediately, nearly 18 months after the retail pharmacy group failed to extend a supply contract with retail chain Chemist Warehouse and embarked on a costly realignment.
Sigma chief executive Mark Hooper said the timing of the change was "not ideal", but he insisted Ms MacPherson's departure would not hurt the company's performance, outlook or affect its savings targets.
Mr Hooper said sales for December and early January continued to show strength and he reaffirmed Sigma's existing underlying full-year earnings guidance of between $46 million to $47 million.
The company has commenced an external search for a new chief financial officer to lead the finance team through our ongoing business transformation and cultural change program.
Ms MacPherson had been Sigma's CFO since 2016.
Former Sigma CFO Jeff Sells will fill the role on an acting basis in conjunction with his current duties as the executive general manager of retail pharmacy.
Sigma - which also owns the Discount Drug Store brand - reported an 81.2 per cent decline in half-year profit to $2.52 million back in September after revealing in March it would close distribution centres and shed 500 jobs after losing its My Chemist-Chemist Warehouse supply deal.
Shares in the company were 2.14 per cent lower at 57.25 cents by 1345 AEDT on Wednesday, and have now fallen 29.3 per cent from an 81 cent price just before the Chemist Warehouse deal was sunk in July 2018.
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