PolyNovo Limited (ASX: PNV) has addressed recent media speculation regarding its leadership transition, confirming that CEO Swami Raote has been asked to step down, with his employment set to officially end in June 2025.
The company revealed that confidential discussions took place last Friday, during which terms for Raote’s departure were proposed. While his contract runs until June, PolyNovo intends to appoint an Acting CEO before that date, with Dr. Robyn Elliott, a current non-executive director, set to take on the interim leadership role.
A Strategic Transition
PolyNovo has not disclosed specific reasons for the leadership change but emphasized that the transition is being carefully managed. The board is now focused on appointing a permanent CEO to drive the next phase of the company’s growth.
This move comes as PolyNovo continues expanding globally, leveraging its NovoSorb® technology to redefine complex wound management. With over 50,000 patients treated across 41 countries, the company remains committed to innovation and commercial expansion.
PolyNovo has reassured investors that the transition will not disrupt operations and that further updates will be provided in due course.
