Ebos CEO Patrick Davies to step down,

CFO John Cullity named as replacement.

Ebos Group chief executive Patrick Davies has stepped down and will be replaced by chief financial officer John Cullity from March 31 next year, the healthcare and animal products company says.

Davies will work on contract for Ebos "to assist with new and emerging opportunities," the company said. It was his decision to step down, Ebos said.

Davis became CEO in July 2014, having held the top job for six years at Symbion, the pharmaceutical wholesaler and distributor in Australia that Ebos acquired in 2013 for $1.1 billion cash and scrip, a deal which transformed the company and saw profit almost triple in 2014. Symbion's owner Zuellig Group gained a 40 percent stake in the combined business as a result.

Cullity also joined Ebos in July 2014 after roles at Sigma Pharmaceuticals in Australia and Coca-Cola Co in the US.

Ebos shares last traded at $18.34 and have gained 9.8 percent this year.

(BusinessDesk)