Medical Developments International (ASX: MVP), the company responsible for a range of products including pain drug inhaler Penthrox, has announced the resignation of its CEO, John Sharman.
The company said Mr Sharman, who has been with the company for almost ten years, has chosen to pursue other business interests but will remain in the position for at least three months to assist with the transfer to new leadership.
“On behalf of our Board, our staff and our shareholders, I would like to thank John for his outstanding leadership and significant contribution to the company over the last 10 years," said Chairman David Williams.
"During this time MVP has undergone a significant transformation, expanded geographically and enjoyed extraordinary commercial success that has shaped the company into a global pharmaceutical business. John has been a fantastic leader of our business, we congratulate him on his achievements. While we are sad to see John leave, this is a good opportunity to take the company to another level with a new leader.”
Mr Sharman said, “I’m very grateful for the opportunity given to me by the stakeholders of MVP and would like to personally thank the Chairman, Mr David Williams for his support. I am very proud of our achievements and am confident of MVP’s future worldwide success.”
“The Board will work closely with John and the MVP Leadership Team to manage the transition over the next few months. At the same time, we have started the search for a new outstanding candidate and leader that can spearhead our growth in the US and the EU, and bring our flow technology and related products to market,” added Mr Williams.