Resignation of Joint CEO
Joint CEO George Karafotias resigned, with three-month notice period; sole CEO role goes to Zack Bozinovski.
- Director loan to be repaid $705,000 plus accrued interest
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Wellnex Life Limited ("Wellnex" or the "Company") (ASX:WNX AIM:WNX) advises that the Company's joint Chief Executive Officer & Managing Director, Mr George Karafotias has resigned from the Company as CEO and director of the Company.
Mr Karafotias has a three-month notice period, and he has agreed to provide appropriate handovers during that period to ensure a smooth transition but will step down immediately as a director.
The Company's joint CEO & MD Mr Zack Bozinovski will remain and assume the role of sole CEO & MD. There are no changes to Mr Bozinovski's current employment terms including remuneration.
Acting Non-Executive Chair Mr Andrew Vidler commented, "on behalf of the Board, I would like to thank George for his contributions to the Company since July 2021. 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."
Pursuant to a loan agreement between the Company and George Karafotias, Mr Karafotias provided a director loan of $705,000 to the Company and Wellnex has agreed to repay George the full principal amount plus accrued interest within 90 days of his resignation.
This ASX/AIM announcement has been authorised by the Board of Wellnex Life Limited (ASX/AIM:WNX).
To learn more, please visit: www.Wellnex Lifelife.com.au/
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.