Sigma Pharmaceuticals CFO Resigns

The chief financial officer (CFO) of Sigma Pharmaceuticals, Mark Smith, has resigned from the drugs maker and distributor to pursue other interests. His resignation is effective immediately. KPMG partner Mark Watson will act as CFO until the Sigma board has appointed a replacement. Sigma has advised that the search for a replacement is underway.

Smith’s resignation comes a month after Sigma’s chief executive, Elmo de Alwis, quit the company, following its AU$390m loss in the 2010 fiscal year. Sigma shares dropped over 48% following that result. Following Smith’s resignation, the company’s share price has fallen 2.7%.


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