UPDATE 2-Swiss drugs group Lonza left leaderless by second CEO's sudden exit [Reuters]
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Source: Reuters
Swiss drugs group Lonza left leaderless by second CEO's sudden exit - Reuters 3 Min Read ZURICH (Reuters) - Lonza ( LONN.S ) lost its second chief executive in less than a year on Tuesday, leaving the Swiss contract drug manufacturer looking for a new leader to revamp its stagnating specialty ingredients business and build its biotech manufacturing. Investors were taken by surprise by the departure for “personal reasons” of Marc Funk, an insider who succeeded Richard Ridinger as Lonza CEO in March, and its shares fell. Funk, 58, said he would stay until January for a smooth transition and Lonza chairman Albert Baehny, the ex-CEO of plumbing equipment maker Geberit ( GEBN.S ), will be interim CEO. “The board respects Marc’s decision and would like to thank him for his service to Lonza and wish him well for his future endeavors,” said Christoph Maeder, a Lonza board member who was named lead independent director. Lonza said a search for a new CEO was under way and its plans to conve
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