Pharmacybrands CEO Wham departs after decade in charge, shares fall

Pharmacybrands chief executive Alan Wham has resigned after a decade in charge of the retail pharmacy and medical centre chain, effective from the end of June. The stock fell 2.3 percent.

Chairman Peter Merton said Wham "delivered significant shareholder value" during his time in charge, overseeing a period of mergers and acquisition, including the 2009 deal with Life Pharmacy, and last year's Radius Pharmacy and Radius Medical.

The board has embarked on finding a replacement for Wham, Merton said.

The shares fell 3 cents to $1.26 today, having gained 10 percent this year.

BusinessDesk.co.nz

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