Wattle Health (ASX:WHA) has announced a major board shake up in the wake of a disappointing capital raising.
The Company’s Executive Director, CEO and Co-Founder Mr Lazarus Karasavvidis resigned from the Board of the Company and agreed to step down from his role as CEO.
Meantime, the Company’s ASEAN Sales Director and Co-Founder Mr Martin Glenister has also resigned from the Company.
Wattle Health has appointed Dr Tony McKenna as the Group CEO and MD.
Earlier this month the baby formula specialist had hoped to raise as much as $62 million through a four-for-five rights issue. The company however pocketed less than $12 million from investors.
Shares in Wattle Health Australia (ASX:WHA) last traded at $0.47.