Simavita Limited announced that Mr. Michael Spooner and Dr. Gary W. Pace have been appointed non-executive Chairman and non-executive Director respectively. As a consequence of the changes to Board composition and review of strategic direction, the Chairman of Simavita Mr. Michael Brown and Managing Director /CEO Ms. Philippa Lewis have both agreed to step down. Additionally, Ms. Peta Jurd has resigned as Interim Chief Financial Officer of the company.

She will remain as Chief Commercial Officer. The Board will seek to replace the Chief Financial Officer position shortly. Dr. Pace is a seasoned biopharmaceutical executive with over 30 years of experience in the industry.

Mr. Spooner is a current and past board member of a number of highly successful and listed corporations including dual listed Mesoblast Limited. Messrs Craig Holland and Warren Bingham will remain on the company's Board for a transitional period pending the appointment of new directors.