MAYNE Pharma has announced that Shawn O'Brien has stepped down as CEO and MD, with Mayne's current CFO Aaron Gray appointed to replace him.
O'Brien will remain in an advisory capacity to ensure a smooth transition, while Mayne has started the recruitment process for a new CFO.
The company also released its first half-year 2026 financial results, reporting "resilient underlying EBITDA, with disciplined margin management, despite uncertainty from the Cosette transaction process".
While revenue remained steady and gross margin improved by 3.9 percentage points, EBITDA was down 8% compared with the corresponding period last year, in part due to legal costs related to the Cosette scheme.
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