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Stada poaches Novartis exec for fifth CEO in two years

Published on: 08/02/18

Stada has revealed its new CEO as Peter Goldschmidt, the current head of North American operations at Novartis’ generics and biosimilars unit Sandoz.

He will become the company’s fifth CEO in just two years, succeeding Claudio Albrecht who was brought in in September last year by hedge funds Bain Capital and Cinven, after they acquired the company in August.

Albrecht himself succeeded Engelbert Coster Tjeenk Willink, who served on an interim basis after his predecessor Matthias Wiedenfels resigned in January last year for personal reasons. When he steps aside for his successor, he will move to a non-executive position within the company.

Meanwhile, Goldschmidt has held his current role as President and Head of North America at Sandoz since 2013, and has been with the company for 28 years, holding a range of leadership positions in its European and Asian operations in that time. He will assume his new position at the helm of Stada on 1 September.

Albrecht called Goldschmidt “an excellent choice”, while Guenter von Au, Chairman of Stada’s supervisory board, remarked: “Claudio Albrecht is making tremendous progress at Stada and will continue implementing the necessary reforms as CEO until later in the year. It has always been clear that he will then stay with Stada in a nonexecutive role, and we are delighted to have recruited an outstanding successor.”

Alongside the announcement, Stada also confirmed that Finance Chief Mark Keatley and Chief Technical Officer Barthold Piening will remain on the company’s executive board.

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