Melbourne, March 2025 – PolyNovo Limited (ASX: PNV) has announced that Chief Executive Officer, Mr. Swami Raote, will step down from his role effective immediately, with non-executive director Dr. Robyn Elliott stepping in as Acting CEO. Mr. Raote’s formal employment with the company will cease on June 10, 2025.
Why the Leadership Change?
PolyNovo’s Board and Mr. Raote were unable to reach an agreement following confidential discussions regarding his tenure, as noted in the company’s earlier ASX announcement on March 7, 2025. After careful consideration, the Board determined that new leadership is required to continue driving the company’s growth.
Mr. Raote has been asked to assist with the leadership transition as needed until his official departure in June. In recognition of his nearly three years of service, the Board acknowledged his contributions, including overseeing global operational growth, manufacturing expansion, and R&D transformation.
Interim Leadership and CEO Search
Dr. Robyn Elliott, currently a non-executive director, will serve as Acting CEO while the company searches for a permanent, Australia-based CEO. The executive search process will commence shortly.
Dr. Elliott brings a strong leadership background, having recently retired as Global Head, Portfolio Management at CSL, where she oversaw a multi-billion-dollar capital expansion portfolio. Her experience spans strategic expansion, quality management, clinical trials, regulatory affairs, and operational strategy.
Board Review and Governance
PolyNovo has also engaged global executive search firm Spencer Stuart to review the Board’s structure, skills, and composition as part of its ongoing governance and succession planning efforts. Further updates on this review will be provided as appropriate.
With Dr. Elliott at the helm, PolyNovo remains focused on maintaining momentum, delivering innovation, and driving continued global expansion.
