Healius chief Jaquet quits

Healius managing director Maxine Jaquet will exit after just 12 months in the job as the pathology company begins a wide-ranging strategic review after disappointing shareholders yet again last month with a profit downgrade.

Ms Jaquet will be replaced immediately by the company’s chief financial officer, Paul Anderson, who has previously had high-profile media roles, including as CEO of Network Ten and executive vice-president of ViacomCBS Networks in Australia and New Zealand.

The company’s shares have plummeted from levels close to $5 in late 2021 to as low as $1.09 in recent days, as it struggled to adapt to post-pandemic business conditions.

The stock bounced more than 11 per cent on the news of the strategic review on Tuesday to be trading at $1.25.

Ms Jaquet was thrust into the top job at Healius a year ago following the sudden departure of Malcolm Parmenter.

Ms Jaquet had to contend with a takeover offer from competitor Australian Clinical Labs, launched on March 20 last year, which was eventually blocked by the competition regulator, and also presided over a $187m capital raise at a steep discount to the then share price in order to reduce debt.

Investors at the annual meeting in November last year expressed their disappointment at how the company was being run, with K Capital chair David Kingston saying he was glad he hadn’t bought shares earlier in the year.

Activist investor John Wylie’s Tanarra Capital was also critical of the company’s performance, and won a seat on the board at the meeting.

Mr Wylie accused the company of being “extremely” poorly run.

In February, Healius flagged its earnings before interest, tax, depreciation and amortisation for the 2024 financial year would be between $359m and $369m after an earlier prediction in November of between $383m and $393m.

Healius on Tuesday said it would review its structure and assets’’ and that Ms Jaquet had resigned effective immediately.