Revolving doors spin at Monash IVF as CEO quits for personal reasons
The revolving doors at Monash IVF Group have swung into action again with news that its CEO and managing director David Morris has quit for personal reasons, effective immediately.
Monash IVF (ASX:MVF) is a listed women’s fertility group with a track record dating back to 1973, when “the work of our pioneers achieved the first IVF pregnancy in the world”, the company claims.
It also has a track record of sliding doors — Dr Lynn Burmeister, famously dubbed Melbourne’s “fertility queen” for her reputation as Monash IVF’s busiest doctor, quit last year after nearly 20 years with the company, citing bullying, internal politics and tall poppy syndrome. The company denied those accusations.
In May 2017, then CEO James Thiedeman quit after more than four years with Monash IVF to take up the top job at the Vision Eye Institute.
And this morning Monash told the ASX that Mr Morris “has resigned for personal reasons and was unable to relocate to Monash IVF Group head office in Melbourne”.
“Monash IVF appreciates the valuable contribution that Mr Morris has made to the group and we wish him well in his future endeavours,” chairman Richard Davis told investors.
He will be replaced in the interim by Michael Knaap, the current chief financial officer.
“We are fortunate to have an experienced executive of the calibre of Michael Knaap to lead the group in this interim period as we commence a search for a new CEO,” Mr Davis said.
“Michael and the senior management team are equipped and well advanced in executing our FY19 strategy, which is underpinned by ensuring that our Group continues to deliver exceptional care to our patients.”
Monash IVF shares were flat on the news. They have been trading between $1.06 and $1.41 since dropping off a cliff around the time of its AGM in late November last year.