Stada Arz CEO and CFO quit, after takeover failure

4 July 2017

Following swiftly on last week’s shareholders rejected takeover bid for Stada Arzneimittel (SAZ: Xetra) by private equity firms Bain Capital and Cinven, two of the companies top executives have proffered their resignations.

The news was seemingly welcomed by investors, as Stada’s shares moved up 2.37% to 63.99 euros by late afternoon trading today.

Chief executive Dr Matthias Wiedenfels and chief financial, marketing and sales officer Helmut Kraft have informed the supervisory board that they will step down from their positions with immediate effect for personal reasons. Dr Wiedenfels is also resigning from office as chairman and member of the executive board of the company.

This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Try before you buy

Free

7 day trial access

Take a Free Trial

All the news that moves the needle in pharma and biotech
Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
Receive The Pharma Letter daily news bulletin, free forever.

Become a subscriber

£820

Or £77 per month

Subscribe Now

Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
Daily roundup of key events in pharma and biotech.
Monthly in-depth briefings on Boardroom appointments and M&A news.
Choose from a cost-effective annual package or a flexible monthly subscription

The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK