Amidst a period of significant transitions, Lonza secures Wolfgang Wienand for its top executive role.
Keystone/GAETAN BALLY
Lonza has filled the vacancy at the top of the Group around six months after the departure of its former CEO.
The world’s largest pharmaceutical contract manufacturer has turned to its competitor Siegfried to fill the vacancy, bringing in its CEO Wolfgang Wienand.
The German will become the new CEO of Lonza in summer 2024, the Basel-based company announced on Tuesday. At that time, 71-year-old Albert Baehny will be able to retire from the company for good.
Since former Lonza CEO Pierre-Alain Ruffieux had to leave after less than three years, Baehny has not only been Chairman of the Board of Directors, but also CEO ad interim. Lonza had already chosen Dutchman Jean-Marc Huët as Baehny’s successor at the head of the Board of Directors in January.
Many Changes in the Past
During Baehny’s tenure, Lonza transformed itself from a chemical company into a market leader in contract manufacturing (CDMO).
Long-time CEO Richard Ridinger left at the beginning of 2019, Marc Funk just nine months later and Ruffieux stepped down in the fall of 2023. During this time, Baehny had to act as interim CEO twice.
Wienand has indeed left an impressive mark on Siegfried in his five years as CEO: Under his leadership, the company from Zofingen AG has grown by more than 60 percent to almost CHF 1.3 billion in sales and now employs over 3,700 people.
One League Bigger
However, Wienand’s footsteps are even bigger: Lonza generated sales of CHF 6.7 billion in the 2023 financial year and employs around 18,000 people.
And while Siegfried is primarily active in the chemical production of active pharmaceutical ingredients and finished dosage forms such as tablets, Lonza is dominated by the lucrative production of active ingredients using biotechnology.
High Expectations
The trend towards pharmaceutical companies outsourcing the production of active ingredients to specialists such as Lonza will continue. Lonza recently purchased two large production facilities from Roche in California, backing up this claim.
Wienand’s target: Lonza wants to grow by 11 to 13% annually in local currencies by 2028. And the margin should return to the 32 to 34% range.
Siegfried Shares Suffer
Meanwhile, the initial euphoria on the stock market has subsided: At 10.30 a.m., Lonza shares were still 0.4 percent higher at CHF 542.20, up 53 percent since the beginning of the year.
Siegfried shares, on the other hand, dipped by 4% following the loss of its CEO. Under Wienand, the share price had more than tripled since 2019.
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