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PETER Gregg has resigned as Primary Health Care (ASX: PRY) CEO to deal with two charges of violating the corporations act brought by ASIC related to his time at Leighton Holdings.
The Australian Securities and Investment Commission (ASIC) alleges that Gregg falsified company documents in 2011, and he will front the Downing Centre Local Court in Sydney on 31 January for first mention of the case, which is being prosecuted by the Commonwealth Director of Public Prosecutions.
Gregg, who has denied the charges, will stay on as CEO until the company finds a replacement. He served at Leightion (now CIMIC Group) between 2009 and 2013, then took up the role of CEO at Primary Health Care in 2015.
At the time the charges were announced on January 10, Primary Health Care stood by its CEO and in an announcement today, company chairman Rob Ferguson praised Gregg for transforming the business.
"The Board has great respect for Peter who, on stepping into his role, immediately took action to enhance Primary's business amid industry headwinds," says Ferguson. "He is an executive of exceptional quality who has acted with the highest integrity during his time at Primary."
"Under Peter's leadership, Primary has repaired its balance sheet; divested noncore assets; developed new offerings for Health Care practitioners; and begun diversifying revenue streams," he says.
"The Board considers that Peter's ongoing leadership is important at this juncture to maintain momentum and to deliver on the Boardendorsed strategy.
"Hence while we have accepted Peter's decision to ultimately stand down, we have asked him to remain at the helm until such time as we have decided upon a suitable replacement."
Business News Australia
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