Wellnex Life joint CEO George Karafotias resigns

MELBOURNE - Wellnex Life Limited (ASX:WNX, AIM:WNX) announced Friday that Joint Chief Executive Officer and Managing Director George Karafotias has resigned from his positions at the company.

According to a press release statement, Karafotias will serve a three-month notice period and provide appropriate handovers to ensure a smooth transition, though he has stepped down immediately as a director.

Zack Bozinovski, who served alongside Karafotias as joint CEO and Managing Director, will assume the role of sole CEO and Managing Director. The company stated that there will be no changes to Bozinovski’s current employment terms, including remuneration.

Acting Non-Executive Chair Andrew Vidler acknowledged Karafotias’s contributions to the company since July 2021, particularly his support on various corporate transactions.

As part of the separation, Wellnex has agreed to repay a director loan of $705,000 plus accrued interest to Karafotias within 90 days of his resignation. The loan was provided to the company under a previously established loan agreement.

Wellnex Life is dual-listed on the Australian Securities Exchange and the London Stock Exchange’s AIM market.

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