Grifols (GRLS.MC) announced that its executive chairman, Thomas Glanzmann, will become its new CEO, terminating the founding family’s executive leadership.
After Steven F. Mayer resigned as Grifols’ executive chairman in February owing to health issues, Glanzmann became chairman.
Two Grifols founding family co-CEOs will leave the firm.
Raimon Grifols will continue on the board and become the chief corporate officer, while Victor Grifols Deu will become the chief operating officer.
Plasma shortages struck the Barcelona-based firm that makes pharmaceuticals from blood plasma at the outset of the epidemic. Despite improving supplies, its 2023 projection disappointed analysts earlier this year.
In February, Grifols announced it would lay off 8.5% of its workers to lower its debt by 400 million euros ($441.7 million).
In October 2018, Grifols declared that its chairman would have executive powers to accelerate its comeback.
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