Cambrex Announces Management Changes and Board Appointments

EAST RUTHERFORD, N.J., Jan. 06, 2020 (GLOBE NEWSWIRE) -- Cambrex Corporation, the leading small molecule company providing drug substance, drug product and analytical services across the entire drug lifecycle, today announced changes to its management team and Board of Directors to accelerate growth and further operational excellence, building upon its trusted reputation for the highest quality pharmaceutical development and manufacturing capabilities.

The following appointments and new positions are effective immediately.

• Robert Green has been named Executive Vice President and Chief Financial Officer, succeeding Gregory Sargen, who will depart the company on January 31.  Mr. Green joins from General Electric Corporation, where he began his career in 1990 and was most recently CFO of GE Power, a global business unit with $35 billion in revenue operating in 180 countries. In his tenure at GE, Robert served as CFO for eight global business units, including as CFO of GE Healthcare Bio-Sciences, a leading medical diagnostic and life sciences products company.
• Shawn Cavanagh has been promoted to President and Chief Operating Officer, and will join the Company’s Board of Directors. Shawn has served as  EVP and Chief Operating Officer of Cambrex since 2011, having originally joined in 1999, and has been instrumental to the company’s long-term growth and strategic development.
• Stephan Haitz has been promoted to President, CDMO Sales & Marketing. Mr. Haitz joined Cambrex in 2014 and has served as Vice President, Sales & Business Development. Stephan previously held various sales and business development roles at Lonza and Solvias AG.

The Company’s Board of Directors will now be comprised of Chairman Wayne Hewett, CEO Steven Klosk, President Shawn Cavanagh, Claes Glassell, who will be rejoining the Board, Permira Partners John Coyle and Henry Minello and Permira Principal Laura O’Donnell.

Steven Klosk, CEO of Cambrex, said, “I’m proud of the depth and experience of our talented team, which is reflected in the quality of individuals transitioning to these leadership roles. We are well-positioned for continued growth in the market given our best-in-class assets, broad product capabilities and customer reputation. I’m thrilled to be working with this group of individuals and look forward to the strong future ahead.”

Wayne Hewett, Chairman of the Board, said, “I am incredibly honored to serve as Chairman during this inflection point in Cambrex’s history. The management team and Board have a remarkable combination of healthcare leadership experience and operational expertise and, following the Permira funds’ investment, are well-positioned to support Cambrex’s growth and expanded product offering to better serve leading pharmaceutical companies around the world.”

Mr. Hewett added, “We are especially fortunate that we will continue to have the expertise and leadership of Claes Glassell on our Board. He is a well-respected industry veteran in life sciences and has already been an invaluable resource to the Board and management team of Cambrex for several years.”

Mr. Hewett concluded, “We would like to welcome Robert to Cambrex and are excited to add someone of Robert’s caliber and experience to the senior team.  On behalf of the Cambrex Board, management and employees, I would like to thank Greg Sargen for 17 years of service to Cambrex. He has had a tremendously positive impact on the company. We wish him all the best.”

Henry Minello, Permira Partner, said, “We have long admired Cambrex for its excellent reputation for the highest quality products and services from clinical phase development and manufacturing through commercial production. Cambrex is one of a small group of top-tier players that can provide the full suite of services for pharmaceutical customers. With these important management additions and promotions completed, we are excited to be backing a talented senior team to drive growth and meet the ever-expanding needs of the marketplace.”

About Cambrex
Cambrex is the leading small molecule company that provides drug substance, drug product and analytical services across the entire drug lifecycle. The company provides customers with an end-to-end partnership for the research, development and manufacture of small molecule therapeutics. With over 35 years’ experience and a growing team of over 2,000 experts servicing global clients from sites in North America and Europe, Cambrex is a trusted partner in branded and generic markets for API and dosage form development and manufacturing.

Cambrex offers a range of specialist drug substance technologies and capabilities including biocatalysis, continuous flow, controlled substances, solid state science, material characterization and highly potent APIs. In addition, Cambrex can support conventional dosage forms including oral solids, semi-solids and liquids and has the expertise to manufacture specialist dosage forms such as modified-release, fixed dose combination, pediatric, bi-layer tablets, stick packs, topicals, controlled substances, sterile and non-sterile ointments.

For more information, please visit www.cambrex.com

About Permira
Permira is a global investment firm. Founded in 1985, the firm advises funds with a total committed capital of approximately US$48bn (€44bn) and makes long-term investments, including majority control investments as well as strategic minority investments, in companies with the objective of transforming their performance and driving sustainable growth. The Permira funds have made over 250 private equity investments in five key sectors: Technology, Consumer, Financial Services, Industrial Tech and Services, and Healthcare. Permira employs over 250 people in 14 offices across Europe, North America, and Asia.

For more information, please visit: www.permira.com

Cambrex Contact:           
Stephanie LaFiura
Senior Executive Assistant
(201) 804 3037
Email: [email protected]
                
Permira Contact:
Nina Suter
Head of Communications
Tel: +44 207 9594037
Email: [email protected]

Brooke Gordon / Devin Broda / Julie Rudnick
Tel: +1 (212) 687 8080
[email protected]