On August 29, 2023, Alessandro Maselli, President & CEO of Catalent, Inc., (the
Company) sent the following email to the Companys employees:
Catalent Team,
This morning, as part of our earnings announcement for the fiscal year that ended in June, we announced initiatives aimed at advancing the Companys
positioning for long-term success, reflecting our ongoing commitment to best-in-class management practices. To view the full press release, please click here.
First, the Board has appointed four new independent directors Steven Barg, Frank DAmelio, Stephanie Okey, and Michelle R. Ryan. We are
excited to welcome them to Catalent and firmly believe that the Company and our stakeholders will benefit from their deep industry expertise, diverse skillset, and significant leadership experience. We welcome the fresh perspectives that these new
board members will bring.
Today, we also announced that one of our existing board members, John Greisch, has been appointed Executive Chair of the Board.
In addition, the Board has established a new Strategic and Operational Review Committee, which will be chaired by Mr. Greisch and will also include Mr. Barg, Ms. Ryan, and two other existing board members, Gregory T. Lucier and Jack
Stahl, as members. This committee will focus on reviewing our business, strategy, and operations, as well as our capital-allocation priorities, to maximize our long-term value. The Committee will make its recommendations to the full Board.
These enhancements to our Board are part of a cooperation agreement with one of our largest investors, Elliott Investment Management L.P. Elliott is a highly
engaged investor with deep experience in the healthcare space, who shares our Boards confidence in the long-term potential of Catalent, and so we are pleased to work collaboratively with them. With that, Id like to offer every assurance
that our board of directors, management team, and I are collectively focused on executing on our mission to improve the lives of patients every day, while striving to create value for our many stakeholders. We have recently taken decisive actions to
increase rigor and discipline throughout our business, including the appointment of a new CFO, Matti Masanovich.