Emmanuel Blin appointed Independent Chair of the Board of Directors
David Seignolle appointed Chief Executive Officer
Full-year 2024 guidance maintained
Paris – December 9, 2024 – With FOCUS-27 strategic plan foundations established and its financing secured, EUROAPI moves into a new chapter. The company’s Board of Directors has accepted today the resignation of Viviane Monges as Director and Chair of the Board and Ludwig de Mot as Chief Executive Officer. Consequently, upon the recommendation of the Nominations and Compensation Committee, the Board has appointed Emmanuel Blin as Chair of the Board and David Seignolle as Chief Executive Officer, effective immediately. In response to the new governance, Elizabeth Bastoni stepped down as Independent Lead Director; she remains Chair of the Nominations and Compensation Committee.
« Following the launch and the successful financing of the FOCUS-27 strategic plan, EUROAPI is now on track to deliver long-term value for all its stakeholders. It has been an honor to build and Chair the Board over the past three-plus years, helping this newly formed company navigate headwinds, drive innovation, and improve efficiency. I want to extend my warm thanks to my Board colleagues for their unconditional support and my best wishes to EUROAPI’s management and employees for this new chapter of the company, » said Viviane Monges. “On behalf of the Board, I also want to thank Ludwig de Mot for his dedication to EUROAPI since he joined the company. Ludwig has been instrumental in the early implementation of the FOCUS-27 plan, a prerequisite milestone in our path to future profitable growth for the company.”
Emmanuel Blin, a Member of the Board since May 2022, is a seasoned executive with extensive experience in the pharmaceutical and healthcare industries. A former Bristol Myers Squibb Executive Committee member, as Chief Strategy Officer and Head of Global Commercialization, he brings EUROAPI a wealth of knowledge and strategic acumen to the role of Chair of the Board. His appointment underscores EUROAPI’s commitment to strengthening its position as an Active Pharmaceutical Ingredient industry leader.
“I am honored to accept the position of Chair of the Board at EUROAPI. The company is at an exciting juncture, and I look forward to working closely with the Board and the leadership team to continue the transformation initiated by Viviane Monges, whom I’d like to thank for her guidance and devotion to EUROAPI as Chair of the Board for the past three years,” commented Emmanuel Blin.
David Seignolle joined EUROAPI’s Executive Committee in October 2023, bringing solid experience in the API industry to oversee the Group’s Industrial Operations as Chief Operating Officer. He came from TEVA Pharmaceuticals, where he held several international positions, including Head of Operations for TEVA API in Italy and Mexico and Vice President of Global Supply Chain API and Biologics. Before TEVA, David also served five years at McKinsey in France and the US, where he focused on Pharma Operations.
“The Board is delighted to promote David as our Chief Executive Officer. Since joining EUROAPI, he has demonstrated strong leadership in a challenging and volatile environment. He has the vision, skills, and rigor needed to drive EUROAPI’s transformation and is now well prepared to strengthen the foundations of the company’s future development in the best interest of all its stakeholders, including its employees, clients, and shareholders,” commented Elizabeth Bastoni, Chair of the Nominations and Remuneration Committee.
On June 26th, the company guided on a -8% to -11% year-on-year net sales decrease on a comparable basis and between 4% and 7% Core EBITDA margin for the full year 2024. Based on the most current figures, EUROAPI maintains this full-year 2024 outlook. Full-year 2024 results will be published on 03 March 2025.
About EUROAPI EUROAPI is focused on reinventing active ingredient solutions to sustainably meet customers’ and patients’ needs around the world. We are a leading player in active pharmaceutical ingredients with approximately 200 products in our portfolio, offering a large span of technologies while developing innovative molecules through our Contract Development and Manufacturing Organization (CDMO) activities.
Taking action for health by enabling access to essential therapies inspires our 3,650 people every day. With strong research and development capabilities and six manufacturing sites, all located in Europe, EUROAPI ensures API manufacturing of the highest quality to supply customers in more than 80 countries. EUROAPI is listed on Euronext Paris; ISIN: FR0014008VX5; ticker: EAPI). Find out more at www.euroapi.com and follow us on LinkedIn.
Forward-Looking Statements Certain information contained in this press release is forward looking and not historical data. These forward-looking statements are based on opinions, projections and current assumptions including, but not limited to, assumptions concerning the Group’s current and future strategy, financial and non-financial future results and the environment in which the Group operates, as well as events, operations, future services or product development and potential. Forward-looking statements are generally identified by the words “expects”, “anticipates”, “believes”, “intends”, “estimates”, “plans” and similar expressions. Forward looking statements and information do not constitute guarantees of future performances, and are subject to known or unknown risks, uncertainties and other factors, a large number of which are difficult to predict and generally outside the control of the Group, which could cause actual results, performances or achievements, or the results of the sector or other events, to differ materially from those described or suggested by these forward-looking statements. These risks and uncertainties include those that are indicated and detailed in Chapter 3 “Risk factors” of the Universal Registration Document filed with the French Financial Markets Authority (Autorité des marchés financiers, AMF) on April 5, 2024. These forward-looking statements are given only as of the date of this press release and the Group expressly declines any obligation or commitment to publish updates or corrections of the forward-looking statements included in this press release in order to reflect any change affecting the forecasts or events, conditions or circumstances on which these forward-looking statements are based.
