PolyNovo slumps as CEO to leave in major update in 'bullying' saga

Polynovo

10/03/2025 23:13

** Shares of Australia's PolyNovo PNV.AX fall as much as 7.2% to A$1.165 in early trade

** Stock hits lowest since November 1, 2023

** Biotech co says it has removed its CEO, Swami Raote

** The Australian newspaper has published a series of reports alleging "bullying" by chairman David Williams against CEO Swami Raote and finance head Jan Gielen

** Co earlier this month said it had held talks with Raote over an agreement for him to leave the firm

** PNV stock down 18.2% so far this month

** Stock down 42.4% YTD

 (Reporting by Rishav Chatterjee in Bengaluru)

 ((Rishav.Chatterjee@thomsonreuters.com))