Sigma CFO departs amid restructure effort

Sigma Healthcare is searching for a new chief financial officer after the resignation of Iona MacPherson by mutual agreement amid the Amcal and Chemist King owner’s ongoing restructuring program. 

MacPherson departs the company immediately, nearly 18 months after the retail pharmacy group failed to extend a supply contract with retail chain Chemist Warehouse and embarked on a costly realignment.

Sigma chief executive Mark Hooper said the timing of the change was “not ideal”, but he insisted MacPherson’s departure would not hurt the company’s performance, outlook or affect its savings targets.

Hooper said sales for December and early January continued to be strong and he reaffirmed the existing underlying full-year earnings guidance of between $46 million to $47 million.

MacPherson had been Sigma’s CFO since 2016. Former Sigma CFO Jeff Sells will fill the role on an acting basis in conjunction with his current duties as the executive general manager of retail pharmacy.

Sigma’s half-year profit nosedived 81.2 per cent to $2.52 million back in September after it announced in March it would close distribution centres and shed 500 jobs after losing its My Chemist-Chemist Warehouse supply deal.

Shares in the company were 0.85 per cent lower at 58 cents by 10.25 AEDT on Wednesday, down 28 per cent from the 81 cent price just before the Chemist Warehouse deal was sunk in July 2018.


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