Lonza Announces Succession of CEO
- Richard Ridinger to retire
- Marc Funk appointed CEO
- Handover as of 1 March 2019
Basel, Switzerland, 30 January 2019 – Lonza announced today that Richard Ridinger, CEO, has decided to retire from the company after seven successful years. Going forward, he intends to build a portfolio of non-executive positions in various companies.
His successor as CEO as of 1 March 2019 will be Marc Funk, currently Chief Operating Officer of the Pharma & Biotech division.
To ensure a seamless transition of leadership, Richard Ridinger will remain with the company until the end of April and will then be available to Lonza in an advisory capacity until the end of 2019.
Albert M. Baehny, Chairman of Lonza’s Board of Directors, said: “On behalf of the Board, I would like to thank Richard for his outstanding contribution to Lonza over the last seven years. Under his leadership, Lonza achieved a strategic, operational and financial turnaround, making it the world leader in its markets today.”
He added, “Richard’s achievement at Lonza's main site in Visp (CH) deserves special mention. He took over a site with uncertain prospects and developed it into a pioneering industrial performance center. I look forward to working with him and Marc to ensure a seamless transition of leadership and wish Richard all the best for the future.”
“I congratulate Marc Funk on his appointment. Since 2014 he has led Lonza’s fastest-growing division and built it to become the CDMO partner of choice for pharma and biologics companies. This experience has prepared him very well for his new role as Chief Executive Officer,” the Chairman said. “The Board is delighted to have a strong internal successor to lead the company in the exciting years ahead.”
Richard Ridinger, CEO, said: “Lonza has only been able to achieve its strategic, operational and financial objectives through the close cooperation of all stakeholders. I would like to express my personal appreciation to all the colleagues, customers and partners around the world for their valued contributions to Lonza’s success. It was a pleasure and a privilege to work with them.”
He added, “I am no less committed to the Board of Directors for the trust placed in me and for our constructive cooperation. I wish my successor and long-standing colleague on the Executive Committee, Marc Funk, every success and personal fulfilment in the performance of his new duties. Lonza is in a very strong position, and I will be working closely with Marc over the coming months to ensure a smooth transition and the continuation of the company’s success.”
Marc Funk, incoming CEO, said: “I am honored to have been chosen as the new CEO of Lonza. Over the last few years, I have thoroughly enjoyed the challenge of advancing our Pharma & Biotech business and playing a key role in shaping its development into the world leadership position it enjoys today. As Lonza’s next CEO, I am committed to building on the company’s strong foundation and to driving forward the strategy across all our businesses along the Healthcare Continuum®.”
Lonza is an integrated solutions provider that creates value along the Healthcare Continuum®. Through our Pharma & Biotech segment and our Specialty Ingredients segment businesses, we harness science and technology to serve markets along this continuum. We focus on creating a healthy environment, promoting a healthier lifestyle and preventing illness through consumers' preventive healthcare, as well as improving patient healthcare by supporting our customers to deliver innovative medicines that help treat or even cure severe diseases.
Patients and consumers benefit from our ability to transfer our pharma know-how to the healthcare, hygiene and fast-moving consumer goods environment and to the preservation and protection of the world where we live.
Founded in 1897 in the Swiss Alps, Lonza today is a well-respected global company with more than 100 sites and offices and approximately 15,500 full-time employees worldwide. The company generated sales of CHF 5.5 billion in 2018 with a CORE EBITDA of CHF 1.5 billion. Further information can be found at www.lonza.com.
Lonza Contact Details
Dirk Oehlers, Head Investor Relations
Lonza Group Ltd
Tel +41 61 316 8540
Constance Ward, Head External Communications
Lonza Group Ltd
Tel +41 61 316 8840
Additional Information and Disclaimer
Lonza Group Ltd has its headquarters in Basel, Switzerland, and is listed on the SIX Swiss Exchange. It has a secondary listing on the Singapore Exchange Securities Trading Limited (“SGX-ST”). Lonza Group Ltd is not subject to the SGX-ST’s continuing listing requirements but remains subject to Rules 217 and 751 of the SGX-ST Listing Manual.
Certain matters discussed in this news release may constitute forward-looking statements. These statements are based on current expectations and estimates of Lonza Group Ltd, although Lonza Group Ltd can give no assurance that these expectations and estimates will be achieved. Investors are cautioned that all forward-looking statements involve risks and uncertainty and are qualified in their entirety. The actual results may differ materially in the future from the forward-looking statements included in this news release due to various factors. Furthermore, except as otherwise required by law, Lonza Group Ltd disclaims any intention or obligation to update the statements contained in this news release.