Lonza CEO to Leave as Pharma Supplier Faces Slower Sales (2)

Lonza Group AG, the Swiss supplier for pharma and nutrition companies, said Chief Executive Officer Pierre-Alain Ruffieux will leave at the end of the month, the third surprise CEO departure in about five years.

The company didn’t give a reason for the change. Chairman Albert Baehny will take over as CEO on an interim basis while Lonza seeks a permanent successor to Ruffieux. The shares fell as much as 10% in Zurich trading, doubling their loss during the CEO’s almost three-year tenure.

Pierre-Alain Ruffieux

Source: Lonza Group AG

The board decision likely reflects “a lack of confidence in execution,” Jefferies analysts Lucy Codrington and ...