Morningstar does not foresee major changes in strategy, risk at PolyNovo under new CEO
Analysts at Morningstar do not see significant changes in strategy or risk at Australia's PolyNovo PNV.AX if it transitions to a new chief executive officer
The biotech firm said on Tuesday it has removed its CEO after discussions with the executive last week following media allegations about bullying by the firm's chairman directed at its chief
Brokerage says transition to a new CEO will be made easier given outgoing chief's efforts over his tenure of almost three years and the underlying business being left in a solid position
Says CEO Swami Raote oversaw a period of growth in the firm’s global operations, enabling Polynovo’s maiden profit in fiscal 2024
With the current board, there remains a risk of dysfunction among senior management, but also an opportunity to strengthen governance and the working environment - Morningstar
Stock down 43.4% YTD
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