Sector News

New Stada CEO demotes predecessor's son, sacks advisors

June 27, 2016
Life sciences

The new chief executive of Germany’s Stada, who took over after his predecessor Harmut Retzlaff left for health reasons, has stripped Retzlaff’s son Steffen of some responsibilities and has fired the former CEO’s external advisors, taking a firmer grip of the maker of generic drugs and consumer care products.

Stada earlier this month said its long-time chief executive Harmut Retzlaff would temporarily leave office for health reasons and that fellow executive board member Matthias Wiedenfels would take over as CEO.

Steffen Retzlaff will no longer be in charge of Stada subsidiaries Hemopharm GmbH and Stadavita GmbH and will focus on his responsibility for the regions Asia and Pacific, Middle East and North Africa, Wiedenfels told staff in a letter dated June 20, which was obtained by Reuters.

A company spokesman confirmed the contents of the letter.

External advisors which have been acting as “Senior Advisors to the CEO” have been relieved of their duties, Wiedenfels told staff in the letter.

By Alexander Huebner

Source: Reuters

comments closed

Related News

January 29, 2023

Colorcon, Inc. signs Put agreement with intent to acquire controlled atmosphere packaging specialist Airnov Healthcare Packaging

Life sciences

Airnov provides critical healthcare industries with high-quality, controlled atmosphere packaging, to protect their products from moisture and oxygen. The business has manufacturing facilities in the USA, France, China and India and employs around 700 people.

January 29, 2023

Takeda pledges up to $1.13B for rights to Hutchmed’s cancer drug fruquintinib outside of China

Life sciences

Takeda of Japan has partnered with Hong Kong-based Hutchmed, gaining the commercial rights to colorectal cancer drug fruquintinib outside of China for $400 million up front, plus $730 million in potential milestone payments. Takeda also will help develop fruquintinib, which can be applied to subtypes of refractory metastatic colorectal cancer, regardless of biomarker status, the companies said.

January 29, 2023

Vir taps Bayer dealmaker Marianne De Backer as its next CEO

Life sciences

On April 3, Scangos, who’s been chief executive officer at Vir since the start of 2017, will hand over the reins to Marianne De Backer, Ph.D. De Backer comes over from Bayer, where she currently heads up pharmaceutical strategy, business development and licensing. Alongside her CEO appointment, De Backer is set to join Vir’s board of directors, the company said Wednesday.

How can we help you?

We're easy to reach