Cordlife CEO resigns to pursue other interests

PRIVATE cord blood banker Cordlife Group's group chief executive Michael Steven Weiss has resigned to pursue other interests, about two months after he went on sabbatical leave.

He has been replaced by Tan Poh Lan, currently the group chief operating officer. She was also appointed executive director from Thursday. Mr Weiss earlier requested to take sabbatical leave to attend to personal matters from Jan 10 to May 31 this year.

Separately, the company announced a net profit of S$5.5 million for the financial year ended Dec 31, reversing a loss of S$1.19 million in the 18 months ended FY2017.

Cordlife shares were unchanged at S$0.39 on Thursday before the announcement was made.