EAST RUTHERFORD, N.J., Jan. 04, 2017 (GLOBE NEWSWIRE) -- Cambrex Corporation (NYSE:CBM), a leading manufacturer of small molecule Active Pharmaceutical Ingredients (APIs), today announced the hiring of Tom Vadaketh as Executive Vice President and Chief Financial Officer, effective January 20, 2017. Greg Sargen, CFO at Cambrex, will transition to a newly-created role, Executive Vice President, Corporate Development and Strategy. In his new role, Mr. Sargen will assume responsibility for Corporate Development and Strategy and will continue to report directly to Steven M. Klosk, President and Chief Executive Officer.
“We are excited to welcome Tom. He has an impressive track record and brings a wide variety of experiences across all financial disciplines to Cambrex,” said Mr. Klosk. “I am confident that Tom’s experience in senior corporate roles, especially with manufacturing organizations and facilities, will be invaluable to Cambrex. Tom and Greg will work closely together to ensure a seamless transition.”
“2016 has been our sixth consecutive year of strong organic growth, and we have invested well over $200 million in internal expansions during that time. As we look to the future, we recognize the need to complement our organic efforts with external opportunities,” continued Mr. Klosk. “Greg has led the finance team and has been a trusted business partner during his many years at Cambrex. In his new role, Greg will apply his business acumen, industry knowledge and intimate knowledge of the Company to identify and execute on new growth opportunities, including investment in potential new product categories and capabilities, as well as mergers and acquisitions.”
Mr. Vadaketh was most recently the CFO of the Crosby Group, a private equity-owned company and a world leader in the manufacture of rigging, lifting and material handling applications. Prior to that, he spent nine years in a variety of increasingly senior financial positions at Tyco International. In his last role at Tyco, he served as Vice President, Finance, Corporate Financial Planning & Analysis and CFO of Global Products. Prior to his time at Tyco, Mr. Vadaketh spent 15 years in a variety of senior financial roles at Proctor & Gamble, where he led several corporate and site financial functions and initiatives. Tom started his career at Deloitte and Touche in the United Kingdom, where he earned the Chartered Accountant designation. He also earned his CPA designation in the United States. Tom has a Master of Business Administration (MBA) from the University of Manchester, United Kingdom.
Cambrex Corporation is an innovative life sciences company that provides products, services and technologies to accelerate the development and commercialization of small molecule therapeutics. The Company offers Active Pharmaceutical Ingredients (APIs), advanced intermediates and enhanced drug delivery products for branded and generic pharmaceuticals. Development and manufacturing capabilities include enzymatic biotransformations, high potency APIs, high energy chemical synthesis and controlled substances. For more information, please visit www.cambrex.com.
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