Novogen Limited advises that CEO and Managing Director Christopher Naughton will cease his employment with the Company from today.

Mr Naughton’s position as CEO of the US listed oncology subsidiary company Marshall Edwards, Inc will terminate from today and a world-wide search for a replacement is being initiated.

The Company’s CFO, David Seaton, has been appointed acting CEO of the Group and he will act in that capacity until a new CEO for Marshall Edwards has been appointed. Following that, a permanent CEO will be appointed at Novogen Limited.

 “A world-wide search for a new CEO of Marshall Edwards with drug development and clinical oncology experience together with a track record of fund raising in the US capital markets is being initiated”, said Philip Johnston, Chairman of the Board, Novogen Limited.

“We are all grateful for the contribution Mr Naughton has made to the Group over the past 13 years and wish him well in his future endeavours.  Over the past few years, the focus of the Group and its principal subsidiary, Marshall Edwards, has moved towards oncology drug discovery and development.  Due to the high priority of current and future clinical programs, the Board considers the new appointment of a CEO dedicated to Marshall Edwards is required to implement this strategy”.