Why the McPherson’s (ASX:MCP) share price is sinking lower again

The McPherson’s Ltd (ASX: MCP) share price is dropping lower again on Thursday.

At the time of writing, the health, wellness, and beauty products company’s shares are down 6.5% to $1.17.

This means the McPherson’s share price is now down over 65% from its 52-week high of $3.40.

What did McPherson’s announce?

This morning the company announced that its Chief Executive Officer and Managing Director, Laurie McAllister, has resigned with immediate effect.

This follows a dreadful year for McPherson’s which has seen the company’s performance and share price deteriorate materially.

What happened this year?

During the first quarter of FY 2021, the company recorded a decent 4% lift in sales to $49.7 million.

However, it appears…