After more than two years of leading LEO Pharma through a major transformation and a change of capital structure in a volatile environment during the global pandemic, the Board of Directors of LEO Pharma and President and CEO Catherine Mazzacco have jointly agreed that she will resign from her current role and leave the company on November 30, 2021.
LEO Pharma has recently completed the first phase of its strategic transformation process – including the development of a new capital and governance structure. During her more than two years as President and CEO, Catherine Mazzacco has successfully led this effort and developed the company’s sales and marketing capabilities while at the same time building a strong executive leadership team.
The next phase of LEO Pharma’s transformation is focused on preparing the company for an IPO within a four-to five-year time horizon. This requires a focus on operational efficiency, shareholder and capital markets engagement, and driving the internal strategic transformation of the organization.
The Board of Directors and Catherine Mazzacco have together concluded that this would be the right time for LEO Pharma to recruit a new CEO. Catherine Mazzacco is stepping down from her role and leaving the company on November 30, 2021.
Catherine Mazzacco says:
“It has been a privilege to be the CEO of LEO Pharma and I have a tremendous affection for LEO Pharma employees and their high level of engagement for the company. I am proud of the accomplishments we have achieved together in setting an ambitious strategy for the company, completing a comprehensive efficiency improvement program, establishing a new capital structure and advancing the launch of a major new therapy.”
The Chairman of the Board Jesper Brandgaard says:
“On behalf of the Board, I would like to express our sincere thanks to Catherine Mazzacco for her commendable efforts in leading the transformation of LEO Pharma towards a leadership position in the innovative space of medical dermatology. Catherine Mazzacco has been instrumental in driving the company’s ambitious growth strategy towards 2030.”
The Board of Directors has initiated a search process for the next CEO. Until a new permanent CEO is in place, the current LEO Pharma CFO, Anders Kronborg, will step in as acting CEO, and the Chairman of the Board, Jesper Brandgaard, will act as Executive Chair.
By: Leo Pharma, Press Release
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