Nuchev Elevates Nathan Cheong to CEO, Retains Mick Myers as COO and CFO
Nuchev Limited has appointed Nathan Cheong as its new CEO, with current CEO Mick Myers transitioning to COO and CFO roles, signaling a strategic leadership evolution.
- Nathan Cheong appointed CEO effective May 12, 2025
- Mick Myers transitions to COO and CFO roles
- Cheong brings over 20 years in complementary medicine leadership
- Cheong’s remuneration includes $632,000 base plus incentives
- Board emphasizes smooth leadership transition to accelerate growth
Leadership Transition at Nuchev
Nuchev Limited (ASX: NUC), a prominent player in the nutritional and wellness sector, has announced a significant leadership change with the appointment of Nathan Cheong as Chief Executive Officer. Cheong will officially assume the CEO role on May 12, 2025, following a transition period. This move marks a new chapter for Nuchev as it seeks to build on its existing momentum in the complementary medicine market.
Current CEO Mick Myers will transition to a dual role as Chief Operating Officer and Chief Financial Officer, maintaining his involvement in the company’s strategic and operational execution. The Board has expressed confidence that this leadership reshuffle will harness the complementary strengths of both executives to drive Nuchev’s next phase of growth.
Experience and Expertise of Nathan Cheong
Cheong brings over two decades of experience in the complementary medicine industry, having held senior leadership roles at notable companies such as Melrose Group, Life Space Group, Designs for Health, and BioCeuticals. His background as a naturopath and medical herbalist, combined with his executive experience across both private and ASX-listed entities, positions him well to lead Nuchev’s expanding portfolio.
His appointment follows his resignation as an Independent Non-Executive Director, underscoring a deepening commitment to the company’s operational leadership. Cheong’s academic credentials include degrees in psychology, biochemistry, social work, and naturopathy, alongside memberships in the Australian Institute of Company Directors and the Australian Traditional Medicine Society.
Terms of Appointment and Incentives
Cheong’s remuneration package includes a base salary of $632,000 per annum, with eligibility for a short-term incentive of up to 30% of his fixed remuneration and participation in a long-term incentive program commencing July 1, 2025. Notably, he will receive performance rights valued at $200,000 based on Nuchev’s share price prior to the announcement, subject to vesting conditions tied to his tenure through the end of 2026.
Myers’ new role as COO and CFO comes with a salary of $380,000 and similar incentive structures, reflecting the Board’s intention to retain his institutional knowledge and operational expertise during this leadership evolution.
Strategic Implications for Nuchev
The Board, led by Chair Ben Dingle, has framed this transition as a natural progression designed to accelerate Nuchev’s strategic execution. With Cheong’s proven track record in scaling complementary medicine businesses and Myers’ continued financial stewardship, the company aims to capitalize on growth opportunities in both domestic and international markets, including Australia, China, and online channels.
As Nuchev continues to expand its product offerings under brands like Oli6®, Bio Practica, and Medicine Tree, this leadership realignment may provide the agility and expertise needed to navigate competitive pressures and evolving consumer trends in wellness and nutritional supplements.
Bottom Line?
Nuchev’s leadership reshuffle sets the stage for a potentially transformative growth phase, but execution risks remain under close watch.
Questions in the middle?
- How will Nathan Cheong’s leadership style influence Nuchev’s strategic priorities?
- What operational changes will Mick Myers implement as COO alongside CFO duties?
- How will the market respond to the performance rights and incentive structures tied to this transition?