Insights

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

The company has completed its search…
The post Sigma (ASX:SIG) share price unmoved by new CEO appointment appeared first on The Motley Fool Australia. –

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.

The post Sigma (ASX:SIG) share price unmoved by new CEO appointment appeared first on The Motley Fool Australia.

Should you invest $1,000 in Sigma right now?

Before you consider Sigma, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Sigma wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

Why APA, Kathmandu, Nickel Mines, & Sigma shares are dropping

Sigma (ASX:SIG) share price sinks 7% on half year update and guidance downgrade

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.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!