Former Sandoz exec becomes CEO of Stada Arz

With effect from September 1, Peter Goldschmidt succeeded Claudio Albrecht as the chief executive of Stada Arzneimittel (SAZ: Xetra).

Mr Goldschmidt is an experienced generics manager and OTC expert who was most recently president of Sandoz US, the global generics division of Novartis (NOVN: VX), and head of North America. Mr Goldschmidt will be focused on continuing Stada’s growth strategy that Albrecht successfully reinvigorated and advanced in 2017.

“Peter Goldschmidt is the right man that STADA needs in the driving seat going forward,” said chairman of the supervisory Board Günter von Au, adding: “With his three decades of experience, I am confident he will ensure that STADA successfully retains its strong competitive position.”