Resignation of CEO and Loan Repayment
Wellnex Life Limited announced the resignation of Mr. Zack Bozinovski as Director and Chief Executive Officer, effective immediately as a Director, though he will remain with the company until April 21, 2026. Executive Chairman Mr. Ash Vesali will oversee day-to-day operations during the search for a new CEO. Additionally, the company received a loan from Mr. Bozinovski and his wife, totaling A$2.3 million, including principal and accrued interest, which is subject to immediate repayment. Wellnex Life Limited will work to agree on a repayment schedule by October 31, 2025, with full repayment due no later than April 20, 2026.
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The Board of Wellnex Life Limited (ASX/AIM: WNX) (Wellnex Life or Company) announces that Mr. Zack Bozinovski has resigned as a Director and Chief Executive Officer. Mr. Bozinovski will remain with the Company for a six month period in accordance with his terms of employment, which will conclude on 21 April 2026, although he will step down from the Board as a Director of the Company as of today.
Wellnex will commence the search to identify a new Chief Executive Officer. During this transition period, Executive Chairman Mr. Ash Vesali will oversee the day-to-day operations of the Company and the Company will provide a further update to the market regarding this appointment in due course.
The Company has received a loan from Mr. Bozinovski and his wife. The loan, including principal and accrued interest, totals A$2.3 million. While the loan is now subject to immediate repayment in accordance with its terms, the parties have agreed to work in good faith to agree a repayment schedule by the 31st of October 2025, such agreement to provide that full repayment is to be made by no later than 20th April 2026 The Company will seek to agree a repayment schedule taking account of its cash and financing resources from time to time. A further update will be issued in due course.
The Board thanks Mr. Bozinovski for his service and contribution to the Company, looks forward to continuing to work with him during his notice period and wishes him well in his future endeavours.
This ASX/AIM announcement has been authorised by the Board of Wellnex Life Limited (ASX/AIM:WNX).
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.