February 1, 2018 / 8:42 AM / 7 months ago

Stada names new CEO to replace Albrecht

FRANKFURT (Reuters) - Stada on Thursday named Peter Goldschmidt to take over as chief executive from Sept. 1, replacing Claudio Albrecht after less than a year in office.

Finance chief Mark Keatley and Chief Technical Officer Barthold Piening will keep their positions on the executive board, it said.

Goldschmidt, an executive at Novartis’ Sandoz unit, will be Stada’s fifth CEO in roughly two years. Private equity firms Bain and Cinven, the buyout firms that have taken control of Stada, had brought in Albrecht last year.

Reporting by Maria Sheahan; Editing by Ludwig Burger

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