Celesio AG's New CEO Unveils Radical Shakeup; Considers Sale of Units, CFO Quits

Celesio AG, Europe’s largest drug wholesaler, reduced its 2011 profit forecast for the second time this year, citing increased regulation in the U.K. and competition in France and Germany. Celesio may sell units that handle logistics and sales and marketing for drugmakers, and will renew its focus on drug wholesaling, the Stuttgart, Germany-based company said in a statement today. Chief Financial Officer Christian Holzherr, 48, and Michael Lonsert, who oversees the logistics and marketing division, are leaving the company, Celesio said.

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