Board of Directors Selects J. Martin Carroll as
Next Chair
Executive Chair John Chiminski and Directors
Rolf Classon and Peter Zippelius to Retire
Catalent, Inc. (NYSE: CTLT), the global leader in enabling
pharma, biotech, and consumer health partners to optimize
development, launch, and supply of better patient treatments across
multiple modalities, today announced that current board member and
lead independent director J. Martin (“Marty”) Carroll has been
unanimously selected by its Board of Directors to succeed John
Chiminski and serve as Chair following Mr. Chiminski’s
retirement.
Mr. Chiminski, who led Catalent for more than 13 years as CEO
and was succeeded by Alessandro Maselli on July 1, 2022, will
retire from his remaining responsibilities on June 30, 2023, upon
completion of his transitional year as Executive Chair of
Catalent’s Board of Directors. Director Rolf Classon will also
retire from the Board as of the Company’s next annual meeting in
October 2023, having reached the Board’s mandatory retirement age,
and Director Peter Zippelius, the designee of investors affiliated
with Leonard Green & Partners pursuant to a Stockholders’
Agreement with the Company, will retire from the Board at the end
of January 2023 in accordance with the terms of that agreement,
since those investors no longer own the minimum threshold required
for designating a director.
“On behalf of the Catalent Board of Directors and the entire
company, I want to thank John for his leadership and countless
contributions to our mission to help people live better and
healthier lives,” said Mr. Carroll. “John’s vision for, and
passionate leadership of, Catalent helped advance our strategy,
achieving unprecedented performance, growth, and value-creation,
while positioning our company as a leading player in the CDMO
industry.”
“The Board would also like to thank Rolf and Pete for their
service,” added Mr. Carroll. “Rolf was a highly valued member of
our board for the last eight years, and his guidance and deep
industry insights have proven invaluable to Catalent’s leadership
and his fellow board members. Few healthcare sector leaders have
the depth and breadth of experience that Rolf possesses. Pete has
also been a valuable Board member, serving during a period when
Catalent’s biologics assets have undergone substantial growth and
change, creating a true leader in the field.”
“It has been an honor to serve Catalent both operationally and
at the Board level for so many years, and I am immensely proud of
our many accomplishments during that time,” said Mr. Chiminski. “I
thank all of our Catalent colleagues for their tireless dedication
and commitment to putting patients first, and I look forward to
supporting Marty and the Board with a smooth transition, while
following the company’s continued success well into the
future.”
“I’ve been privileged to serve on Catalent’s board during this
time of extraordinary growth and through the challenges of the
global pandemic,” said Mr. Classon. “It has been deeply rewarding
to work alongside such a diverse, talented board and serve a
company that positively impacts the lives of millions of patients
around the world.”
Mr. Zippelius said, “I am grateful to have had the opportunity
to serve on the Catalent Board of Directors and that the Leonard
Green team helped make possible a significant expansion of
Catalent’s capabilities. Catalent has built an extraordinary
business and continues to have significant opportunities in front
of it.”
Mr. Carroll added, “I appreciate our board’s confidence in me,
and I am excited to continue working with Alessandro, the
leadership team, and our directors to further optimize our core
businesses and continue to build a uniquely positioned platform for
long-term growth and value-creation. These changes represent
Catalent’s commitment to ongoing board refreshment, and I am
confident that the company has the right teams in place to execute
on our strategic objectives while enhancing value for our
shareholders.”
Following the retirements of Messrs. Chiminski, Classon, and
Zippelius, the Board will be reduced to 11 directors, including 9
independent members, 3 female members, and 2 ethnically or racially
diverse members.
About Marty Carroll
Mr. Carroll has served on Catalent’s board since July 2015 and
has been its lead independent director since October 2021. Before
that, he served as president and CEO of Boehringer Ingelheim
Corporation and of Boehringer Pharmaceuticals, Inc. from 2003 until
2011 and as head, corporate strategy and development of Boehringer
Ingelheim GmbH from 2012 until his retirement in 2013. In addition,
he served as a director of Boehringer Ingelheim Corporation from
2003 until December 2012. Prior to that, Mr. Carroll worked at
Merck & Company, Inc. for over 25 years. Mr. Carroll has been
chairperson of the board of directors of Esperion Therapeutics
since June 2022. He has also served as a director of numerous other
life sciences companies, including: Durata Therapeutics, Inc.,
Vivus, Inc., Therapeutics MD, Mallinckrodt plc, and Inotek.
About Catalent
Catalent is the global leader in enabling pharma, biotech, and
consumer health partners to optimize product development, launch,
and full life-cycle supply for patients around the world. With
broad and deep scale and expertise in development sciences,
delivery technologies, and multi-modality manufacturing, Catalent
is a preferred industry partner for personalized medicines,
consumer health brand extensions, and blockbuster drugs. Catalent
helps accelerate over 1,000 partner programs and launch over 150
new products every year. Its flexible manufacturing platforms at
over 50 global sites supply around 80 billion doses of nearly 8,000
products annually. Catalent’s expert workforce of approximately
18,000 includes more than 3,000 scientists and technicians.
Headquartered in Somerset, New Jersey, the company generated nearly
$5 billion in revenue in its 2022 fiscal year. For more
information, visit www.catalent.com.
Forward-Looking Statements
This release contains both historical and forward-looking
statements. All statements other than statements of historical
fact, are, or may be deemed to be, forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. These forward-looking statements generally can be
identified by the use of phrases such as “believe,” “expect,”
“anticipate,” “intend,” “estimate,” “plan,” “project,” “predict,”
“hope,” “foresee,” “likely,” “may,” “could,” “target,” “will,”
“would,” or other words or phrases with similar meanings.
Similarly, statements that describe Catalent’s objectives, plans,
or goals are, or may be, forward-looking statements. These
statements are based on current expectations of future events. If
underlying assumptions prove inaccurate or unknown risks or
uncertainties materialize, actual results could vary materially
from Catalent’s expectations and projections. Some of the factors
that could cause actual results to differ include, but are not
limited to, the following: the current or future effects of the
COVID-19 pandemic or any global health developments on Catalent's
or its customers' or suppliers' businesses; participation in a
highly competitive market and increased competition that may
adversely affect Catalent’s business; demand for its offerings,
which depends in part on its customers’ research and development
and the clinical and market success of their products; product and
other liability risks that could adversely affect Catalent’s
results of operations, financial condition, liquidity and cash
flows; failure to comply with existing and future regulatory
requirements; failure to provide quality offerings to customers
could have an adverse effect on Catalent’s business and subject it
to regulatory actions and costly litigation; problems providing the
highly exacting and complex services or support required; global
economic, political and regulatory risks to Catalent’s operations,
including risks from rising inflation, disruptions to global supply
chains, or from the Ukrainian-Russian war; inability to enhance
existing or introduce new technology or service offerings in a
timely manner; inadequate patents, copyrights, trademarks and other
forms of intellectual property protections; fluctuations in the
costs, availability, and suitability of the components of the
products Catalent manufactures, including active pharmaceutical
ingredients, excipients, purchased components and raw materials;
changes in market access or healthcare reimbursement in the United
States or internationally; fluctuations in the exchange rate of the
U.S. dollar against other currencies; adverse tax legislative or
regulatory initiatives or challenges or adjustments to Catalent’s
tax positions; loss of key personnel; risks generally associated
with information systems; inability to complete any future
acquisition or other transaction that may complement or expand its
business or divest of non-strategic businesses or assets and
difficulties in successfully integrating acquired businesses and
realizing anticipated benefits of such acquisitions; risks
associated with timely and successfully completing, and correctly
anticipating the future demand predicted for, capital expansion
projects at existing facilities; offerings and customers’ products
that may infringe on the intellectual property rights of third
parties; environmental, health, and safety laws and regulations,
which could increase costs and restrict operations; labor and
employment laws and regulations or labor difficulties, which could
increase costs or result in operational disruptions; additional
cash contributions required to fund Catalent’s existing pension
plans; substantial leverage that may limit its ability to raise
additional capital to fund operations and react to changes in the
economy or in the industry; and exposure to interest-rate risk to
the extent of its variable-rate debt preventing it from meeting its
obligations under its indebtedness. For a more detailed discussion
of these and other factors, see the information under the caption
“Risk Factors” in Catalent’s Annual Report on Form 10-K for the
fiscal year ended June 30, 2022, filed August 29, 2022. All
forward-looking statements speak only as of the date of this
release or as of the date they are made, and Catalent does not
undertake to update any forward-looking statement as a result of
new information or future events or developments except to the
extent required by law.
More products. Better treatments. Reliably
supplied.™
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version on businesswire.com: https://www.businesswire.com/news/home/20221219005097/en/
Investors: Paul Surdez, Catalent, Inc. (732) 537-6325
investors@catalent.com
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