CEO Pierre Fitzgibbon to Step Down in 2014; Company Has Launched a
Comprehensive Search for the Next CEO; Québec Resident Chairman Search is also Underway
MONTREAL, April 8, 2014 /CNW Telbec/ - Atrium Innovations Inc. ("Atrium"
or the "Company"), a globally recognized leader in the development,
manufacturing and commercialization of innovative, science-based
natural health products, announced today that Pierre Fitzgibbon,
President and CEO of Atrium, will step down from the Company in 2014,
by mutual agreement with the Board of Directors. Mr. Fitzgibbon will
remain President and CEO while the Board conducts a search for his
replacement and will continue to be one of Atrium's largest individual
shareholders after his departure.
On behalf of Atrium's owners - the Permira Funds, Fonds de solidarité
FTQ and Caisse de dépôt et placement du Québec - John Coyle, Partner at
Permira, said, "Pierre's leadership has been critical to developing
Atrium and its portfolio of leading global brands into the successful
business it is today. We are grateful for his contributions and are
pleased that he has agreed to remain in his position to ensure a smooth
management transition over the coming months. Atrium has tremendous
opportunities ahead and we are confident we will identify a world-class
leader to continue the company's accelerated growth and expansion."
Mr. Fitzgibbon stated, "I am very proud of what our team has achieved
and believe that we have established a very strong platform from which
the Company can pursue growth and continue to provide outstanding
products for our customers. Leading Atrium for the past seven years has
been a very rewarding experience in my career and both the Board and I
concluded that 2014 is the right time for the Company to find a new
leader as I am eager to pursue other interests."
The Board has retained Spencer Stuart, one of the world's leading
executive search consulting firms, to conduct the CEO search.
Separately, the Board has also retained J. Robert Swidler & Associates,
based in Montreal, to lead the search for a Québec resident Chairman.
Atrium Innovations Inc. is a globally-recognized leader in the
development, manufacturing, and commercialization of innovative,
science-based natural health products which are distributed in more
than 35 countries. The Company owns healthcare practitioner and
specialized retail product brands that are at the forefront of science,
innovation and education. Atrium has over 1,300 employees and operates
seven manufacturing facilities with current Good Manufacturing
Practices. Additional information is available at www.atrium-innovations.com.
SOURCE Atrium Innovations Inc.