CEO quits board as Sigma bids for rival

OUTGOING Sigma Healthcare chief executive has resigned as a director of the company – the same week it lobbed a $773m bid for smaller rival Australian Pharmaceutical Industries.

Sigma chairman Ray Gunston said Mr Hooper’s resignation from the board was a “natural transition and good corporate governance” ahead of the arrival of his successor, Vikesh Ramsunder, in February.

“As part of the transition to our new CEO and managing director, Mark Hooper has decided to step down from his role as a director and to not take part in the implementation of long term strategic matters,” Mr Gunston said.

Mr Hooper announced in April his intention to leave the business, with the company confirming his replacement last Friday. Mr Hooper has spent more than 11 years helming the company, which owns the Amcal, Guardian and other chemist brands.

Retail conglomerate Wesfarmers is also bidding to buy API, which owns Priceline pharmacies. Sigma shares fell 1c to 61c on Friday.