Highlights

  • Chair Jane Bell to step down from role and remain as non-executive director
  • Philip Facchina appointed non-executive Chair; Lyn Cobley to lead Audit Committee
  • Changes follow periodic review of board structure and governance

Mesoblast Limited (NASDAQ:MESO; ASX: MSB) announced a series of board changes following its recent Annual General Meeting, as part of an update to its governance structure aligned with the company’s transition toward a revenue-generating commercial phase.

Ms Jane Bell will retire from her role as Chair of the Board after overseeing a period that included the company’s first approval from the U.S. Food & Drug Administration (FDA) and subsequent product commercialisation. Ms Bell will continue to serve on the Board as a non-executive director.

The Board has unanimously appointed Mr Philip Facchina as non-executive Chair. In addition, Ms Lyn Cobley has been appointed Chair of the Audit and Risk Committee. Mr William Burns will continue in his existing roles as Vice-Chair of Mesoblast and Chair of the Nomination and Remuneration Committee.

Incoming Chair Commentary

Incoming Chair Mr Facchina said,

“The Board is deeply grateful and acknowledges Ms Bell for her dedicated service as Chair of Mesoblast during a critical period of the Company's transformation from development to commercialization.”

Mr Facchina joined the Mesoblast Board in March 2021 and brings more than four decades of experience across corporate strategy, finance, and business development, including work within the healthcare sector.

Committee Appointments and Experience

Ms Cobley joined the Mesoblast Board in April 2025 and has experience in corporate finance and governance roles at large global institutions. Her background includes work in strategy, leadership, and operating environments subject to regulatory oversight.

The Board stated that these appointments reflect its approach to aligning leadership roles with the evolving needs of the company.

Outgoing Chair Remarks

Outgoing Chair Ms Bell said,

“These changes reflect our focus on maintaining a high performing, engaged Board with the right mix of expertise and fresh perspectives. I look forward to supporting Phil and Lyn and the rest of the board as we continue to execute on our long-term strategy for shareholders and other stakeholders.”

Governance Review and Outlook

The announced changes follow a regular review of board composition, committee responsibilities, and leadership structure. Mesoblast stated that such reviews form part of its ongoing governance processes to balance experience, continuity, and renewal.

The company also noted that it expects to further strengthen its U.S. commercial expertise over the next twelve months, in line with its stated objectives.

About Mesoblast

Mesoblast Limited develops allogeneic cellular medicines for the treatment of severe inflammatory conditions. The company’s therapies are based on a proprietary mesenchymal lineage cell technology platform designed to modulate immune system responses associated with inflammatory disease.

MESO closed at USD 18.04 on December 31, 2025.