** Shares of Mayne Pharma MYX.AX slip 1.66% to A$2.96, their lowest since mid-October 2023

** Pharma co to cut board's size, says move is in its best interests

** Under revamp, Chair Frank Condella to exit on Wednesday; two non-executive directors to follow post-February results

** Co names Bruce Robinson, a non-executive director since 2014, as non-executive chair

** Stock fell 37.4% last year

(Reporting by Kumar Tanishk in Bengaluru)

((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk http://www.x.com/thatstanishk;))