In this week's C&EN, this surprising news (article by Alex Scott):
Pierre-Alain Ruffieux, CEO of the contract drug development and manufacturing organization (CDMO) Lonza, will leave “by mutual agreement” at the end of the month, the firm says. He took the role in November 2020. Chairman Albert M. Baehny will become acting CEO until a successor is appointed. Lonza’s next CEO will be its third in four years.
Baehny hints in a press release that the company experienced problems under Ruffieux but that positive times lie ahead. “While recent months have undoubtedly been challenging, the company is a global leader in our industry and has many opportunities for further growth across all our businesses,” he says. The Swiss company’s stock price dropped more than 10% following the news of Ruffieux’s departure.
Jan Ramakers, a consultant to the fine chemical industry, says he sees no obvious reason why the CEO should be leaving. “The contract pharma market has slowed a bit, but still I am surprised at Ruffieux’s departure,” Ramakers says.
This is a bit surprising to me? Here is hoping this news isn't a sign of bad news for pharma services in 2024...