Regis Healthcare shares drop as CEO Linda Mellors exits aged care sector

The news: Regis Healthcare shares fell 1% in early trading after chief executive Linda Mellors announced her resignation to the market to "pursue a career opportunity in an unrelated sector".

Mellors will see out a six-month notice period after serving as CEO and managing director since 2019. During that time the board will search for a replacement to lead the $2.2 billion aged care operator.

What they said: Regis chair Graham Hodges said Mellors had guided the company through the COVID-19 pandemic, the Royal Commission into Aged Care, as well as recent reforms to the Aged Care Act.

"Her leadership of Regis has delivered significant growth in the business together with important investments in people, processes, and systems to maintain our focus on high quality care. Linda leaves the business in a strong financial and operating position and with a capable and experienced executive team," Hodges said.