PolyNovo, a burns treatment company, has requested its chief executive officer, Swami Raote, to cease his employment. This action follows reports alleging bullying behavior by chairman David Williams directed towards both Raote and the company’s chief financial officer. The company confirmed in a statement that a “confidential discussion” occurred with Raote, during which he was asked to resign in June 2025 – the end of his contractual notice period – and to step down as CEO from an earlier date.
The Australian newspaper reported that PolyNovo engaged barristers to investigate the allegations. The legal counsel reportedly advised Williams to step back from the board. This internal conflict raises significant questions about the company’s governance and leadership stability. The abrupt departure of the CEO, coupled with the allegations against the chairman, could impact investor confidence and the company’s strategic direction.
Further details surrounding the specific nature of the alleged bullying and the timeline of events remain undisclosed. The company’s response to these allegations and the process of finding a new CEO will be crucial in mitigating potential damage to its reputation and maintaining operational continuity. The situation underscores the increasing scrutiny of corporate culture and the importance of addressing workplace misconduct effectively.