Sigma (ASX:SIG) share price unmoved by new CEO appointment

The company has completed its search…

A senior pharmacist talks to a customer at the counter in a shop

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The Sigma Healthcare Ltd (ASX: SIG) share price is flat on Friday morning and trading at 60 cents a pop.

This comes after the pharmacy chain operator and distributor announced a leadership reshuffle for the top job.

Sigma appoints new CEO

In today's statement, Sigma advised that its board has appointed Vikesh Ramsunder as the new managing director and CEO.

Ramsunder brings a wealth of experience to the role, having been involved with wholesaling, logistics, pharmacy and retail sectors. He is currently serving as group CEO of Clicks Group Ltd (JSE: CLS), a position he has held since January 2019.

Clicks Group, based in South Africa, is one of the largest wholesale, pharmacy and retail operations in the African healthcare market. The company boasts over 840 stores through market-leading retail brands such as GNC, The Body Shop and Claire's. The group also has more than 600 in-store pharmacies across southern Africa.

Prior to becoming group CEO, Ramsunder held several other roles within the Clicks Group, including chief operating officer from 2015. In addition, he also took over as managing director of United Pharmaceutical Distributors (UPD), the Click Group's pharmaceutical wholesaler business.

His appointment follows an extensive search that resulted in a strong list of candidates, both internal and external.

Ramsunder is expected to commence with Sigma in February 2022 following the completion of his notice period.

Outgoing Sigma CEO and managing director, Mark Hooper will remain in the role until 31 January 2022.

Sigma chair, Ray Gunston commented:

The last four years have been committed to a sustained period of critical investments to rebuild our infrastructure in our core wholesale and retail business and set the business up for the future.

We now emerge from that phase poised to accelerate our growth. Vikesh brings the mix of skills and experience that will be valuable in leading Sigma to fast-track that growth agenda both organically and through acquisitions.

About the Sigma share price

Over the past 12 months, Sigma shares have traversed mostly sideways, with a few hiccups along the way. The Sigma share price is up by just 5.26% over the period. It is down 3.23% year to date.

Based on today's share price, Sigma has a market capitalisation of roughly $635 million. There are more than 1 billion shares outstanding.

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Market News

A man has computer-generated images rushing through his head indicating an AI (Artificial Intelligence) concept of a communication network.
Technology Shares

ASX investors are obsessed with Nvidia shares! Here's why

The global chipmaker reported a 94% increase in annual revenue in the third quarter.

Read more »

A man wearing a red jacket and mountain hiking clothes stands at the top of a mountain peak and looks out over countless mountain ranges.
Share Gainers

Here are the top 10 ASX 200 shares today

It was another disappointing day for ASX investors this Thursday.

Read more »

two racing cars battle to take first place on a formula one track with one tailing the the leader and looking to overtake the car.
Opinions

Down 21% in 2024. This ASX 300 stock looks like a money-making monster

Profits are expected to plunge, but the future could still be bright.

Read more »

A businesswoman exhales a deep sigh after receiving bad news, and gets on with it.
52-Week Lows

Down 68% from highs, this ASX 200 stock just hit a 4-year low. Time to pounce?

Is this beaten down stock a buy? Let's see what one leading broker is saying.

Read more »

two men smiling with a laptop in front of them, symbolising a rising share price.
Share Gainers

Why Pinnacle, PWR, Race Oncology, and Vulcan shares are flying today

These shares are having a good session on Thursday. But why?

Read more »

A young man clasps his hand to his head with his eyes closed and a pained expression on his face as he clasps a laptop computer in front of him, seemingly learning of bad news or a poor investment.
Share Fallers

Why Accent, Sayona Mining, Web Travel, and Weebit Nano shares are dropping today

These shares are having a tough time on Thursday. Why are they being sold off?

Read more »

Modern accountant woman in a light business suit in modern green office with documents and laptop.
Share Market News

Insider buying alert: 3 ASX 200 shares directors are snapping up right now

Directors in some of Australia's blue-chip businesses aren't shying away from the market.

Read more »

A man has a surprised and relieved expression on his face. as he raises his hands up to his face in response to the high fluctuations in the Galileo share price today
Broker Notes

Guess which beaten down ASX share is rocketing 11% today

Why are investors buying this beaten down stock? Let's find out.

Read more »