Australia's ImpediMed drops most in 7 months after CEO, CFO resign

ImpediMed

20/11/2023 04:14

** Shares of ImpediMed Ltd  IPD.AX  drop as much as 18.5% to
A$0.110, their biggest intraday fall since March 29
    ** The medical software tech firm says Rick Valencia will
step down as chief executive officer and managing director,
effective immediately
    ** Adds, Tim Cruickshank steps down as chief financial
officer 
    ** Parmjot Bains will take over as CEO, while Chair McGregor
Grant assumes responsibilities of CFO - both to take positions
in interim capacity 
    ** Stock hits lowest level since Nov 2
    ** More than 6.7 mln shares change hands, versus the 30-day
average volume of ~1.6 mln shares
    ** Stock up ~71% this year, as of last close

    

 (Reporting by Neha Soni)
 ((Neha.Soni@thomsonreuters.com))