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AAIPharma Services And Cambridge Major Laboratories, Inc. Announce Resignation Of CEO


4/9/2014 10:03:36 AM

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AAIPharma Services and Cambridge Major Laboratories Announce Patrick Walsh’s resignation as Chief Executive Officer

WILMINGTON, N.C.--(BUSINESS WIRE)--AAIPharma Services Corp. (“AAIPharma”), a leading global provider of pharmaceutical analytical testing, product development and manufacturing services, and Cambridge Major Laboratories, Inc. (“CML”), a global leader in pharmaceutical API development and manufacturing (collectively the “Companies”), announce the resignation of Patrick Walsh as Chief Executive Officer together with the appointment of interim CEO, Susan Nestegard.

“Now that the initial foundation, leadership team and process initiatives have been identified, it is time for me to step down,” stated Patrick Walsh. “Over the last 6 months, I was asked to shepherd the two organizations through the first phase of the integration process,” added Mr. Walsh.

Mr. Walsh joined AAIPharma Services Corp. in 2010 as Chief Executive Officer. Since that time, he has led the organization through a number of successful transformational changes, including the 2013 transaction with American Capital, Ltd.

“On behalf of the Board and the employees, I want to thank Pat for his contribution to the development and growth of our Company, and we wish him well in his new endeavors,” commented Ms. Nestegard. A current member of the Companies’ Boards of Directors, Ms. Nestegard brings over 30 years’ experience in healthcare and research and development. Ms. Nestegard is the former Executive Vice President and President, Global Healthcare, of Ecolab Inc. She also serves on the boards of directors of American Capital, Ltd. and Hormel Foods Corporation.

About AAIPharma Services Corp. and Cambridge Major Laboratories, Inc.

AAIPharma Services Corp. and Cambridge Major Laboratories, Inc. have joined to form a world-class supplier of comprehensive pharmaceutical development and manufacturing services. With nearly 800 employees operating out of seven sites in the US and Europe, combined capabilities include API development and manufacturing, solid state chemistry, formulation development, analytical development and testing services, clinical and commercial finished dosage form manufacturing (solid dose and parenteral), packaging, and stability services. The Companies are portfolio companies of American Capital, Ltd. (NASDAQ: ACAS).

For more information on the companies, visit www.aaipharma.com and www.c-mlabs.com.

Contacts

Media Contact:
AAIPharma Services Corp.
Jeff A. Parrott, Ph.D.
media_relations@aaipharma.com
1-910-338-1638
or
Related Links:
AAIPharma Home Page:
http://aaipharma.com
Cambridge Major Laboratories Home Page
http://www.c-mlabs.com/

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