Ellex Medical Lasers chief executive Ged Wallace has resigned, effective immediately
Ellex Medical Lasers is on the hunt for a new CEO after the company’s top executive resigned.
Ellex Medical Lasers is looking for a new chief executive after boss Ged Wallace resigned with immediate effect.
He has been replaced on an interim basis by the company’s chief financial officer Maria Maieli.
The company also released a trading update to the ASX which said it expected to make a before tax loss of $700,000-$800,000 for the past financial year.
The company made a net loss of $5.03 million the previous financial year.
Ellex said in its statement yesterday that group sales were up 3 per cent to $82 million, driven by a 36 per cent increase in sales of its iTrack product.
The iTrack division made a full year loss of about $5 million, but had a strong second half, posting a $1 million loss for this period.
The lasers and ultrasound division is expected to make a $9 million before tax profit.
An executive search program will now start.
The company expects to deliver its financial results on August 29.
The company’s shares closed 2c lower at 58c.
cameron.england@news.com.au