Sigma CFO steps down following the departure of CEO

sigmalogoSigma Pharmaceuticals Ltd., a generic drug maker in Australia, said on Thursday that its chief financial officer Mark Smith has resigned from the company with immediate effect. This was the second time in less than a month when a senior executive was departing the company. The shares of the drug maker closed at 35.5 cents, down 3%, on Thursday after making a low of 34 cents. Sigma said in a statement that Mr. Smith is leaving to pursue other interests. In a brief statement to the Australian Securities Exchange, Sigma said that the resignation would take place with immediate effect. The company said that Mark Watson, a KPMG partner, would fill the role until a permanent replacement was found. Mr. Smith had joined Sigma two years ago. Before that he was working an executive director with ANZ Institutional Banking. The departure of Mr. Smith was reported the second one in a month for Sigma. Last month its chief executive officer Elmo De Alwis had resigned from the company. His resignation came after a full year loss of $A389 million.