Generic drug maker Sigma Pharmaceuticals Ltd
(ASX:SIP) has announced the resignation of chief financial officer, Mark Smith, effective immediately.
The company says Mr Smith is leaving to pursue other interests and Mark Watson, a partner with KPMG will act in the role until the board can find a replacement.
In April news came that CEO Elmo De Alwis had resigned from the role as head of the company after Sigma’s $389 million full year loss.
The company’s result was pressured by $424 million in write-downs including $375 million as a result of its acquisition of Arrow Pharmaceuticals in 2005.
The full year results came more than a month overdue as trading in Sigma’s shares were halted to allow the company to negotiate its heavy debt burden with lenders.
Sigma Pharmaceuticals paid shareholders a total of 3 cents a share in dividends for the year to January 30, 2010.
