McPherson's CEO steps down after three years

• McPherson's Managing Director and CEO, Brett Charlton, announced his decision to step down after leading the business for over three years.
• Shares in McPherson’s remained unchanged at $0.137 following the leadership transition announcement.
• The board has immediately initiated an executive search to appoint a successor while Charlton serves his six-month notice period.

McPherson's (ASX:MCP) announced on Oct. 19 that Managing Director and CEO Brett Charlton will step down after leading the company for more than three years.

This leadership transition follows a challenging period for the group, which recently reported full-year revenue of $118.30 million alongside non-cash impairment charges.

"I would like to thank Brett for his leadership, commitment and contribution to McPherson's over the past three years," said McPherson's Chairman Ari Mervis.

Under his employment agreement, Charlton will serve a six-month notice period as an executive director while an executive search firm assists the board in finding his successor.

The board stated that it will conduct an immediate executive search process to ensure an orderly leadership transition.

Following the announcement, the McPherson's share price was unchanged at $0.137.

The corporate update comes after the group restructured its operating model to focus strictly on its core health and beauty brand portfolio.