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Lonza Appoints Richard Ridinger as CEO
April 3, 2012 | Deepti Ramesh
Lonza says its board of directors has elected Richard Ridinger, 53, as the company’s new CEO effective May 1, 2012. Earlier this year, Lonza fired CEO Stefan Borgas following a series of weak financial results. Lonza recorded a 45.8% fall in net profits for 2011, to SF154 million ($169 million). Sales increased 0.4% last year, to SF2.69 billion. The weak results followed Lonza’s acquisition of biocides maker Arch Chemicals (Norwalk, CT) for $1.4 billion last October. Rolf Soiron, Lonza chairman, has been the acting CEO since the end of January 2012...
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