Roger Corbett AO is quitting his advisory role on the Woolworths board, following yesterday’s announcement by Mayne Pharma who are set to significantly expand its US presence.
Corbett has indicated he is unable to continue his consultancy arrangement with Woolworths as a result of the major expansion of MaynePharma, of which he is chairman. The pharmaceutical company’s expansion into the US involves the $US652 million ($A889 million) acquisition of a suite of generic drugs from Teva Pharmaceutical Industries and Allergan.
Corbett’s arrangement with Woolworths will now conclude at the end of July.
Woolworths Chairman, Gordon Cairns said: “On behalf of the Woolworths Board I want to thank Roger for his advice and support over the past seven months. Roger has assisted me since I became chairman and has provided the benefit of his vast experience and passion for Woolworths.”
Corbett said: “I have enjoyed the opportunity to support Woolworths with the initial stages of its transformation, and to assist the team through recent leadership transitions. Given the significant changes to my other responsibilities announced today it seems an appropriate time to withdraw. I wish Woolworths well in its future endeavours.”
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