Salvatore Guccione, President and COO, to Assume CEO Role

Avatar for Posted by |10 September 2012

ACETO Corp. announced, as part of the company’s Management Succession Plan, effective January 2, 2013, Albert Eilender, chairman and chief executive officer will step down from his position as CEO while retaining his duties as Chairman of the Board. The Board of Directors elected Salvatore Guccione, currently president and chief operating officer and member of the Board, to succeed Eilender as CEO, effective January 2, 2013.

“On behalf of the Board of Directors, we would like to thank Al Eilender for the valuable contributions he has made as ACETO’s Chief Executive Officer over the past three years,” Hans Noetzli, Lead Independent Director commented. “The Board has a great deal of confidence in Sal’s ability to execute ACETO’s organic and acquisition growth strategy and, ultimately, enhance shareholder value. In the months ahead, Sal and Al will continue to work closely together to ensure a seamless transition and continuity in our executive management team”.

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Eilender says he is leaving the CEO role in good hands.

“One of the key responsibilities of the Board of Directors and the Chief Executive Officer is succession planning,” he says. “We are fortunate to have been able to bring someone with Sal’s credentials on board as Chief Operating Officer in 2011. I have every confidence that he will do an excellent job as our Chief Executive Officer in steering the company in the future”.

Guccione is looking forward to his new role.

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“I am honored that the Board and Al have given me the opportunity to lead this organization,” he says. “As Chief Operating Officer, I have had the opportunity to work with our entire organization and believe we are strongly positioned for growth in all three of our business segments. Across the board, we have the management team in-place to carry on the trends of improved financial performance, and implementation of the company’s strategic vision. I am pleased to lead that effort.”

Source: ACETO Corp., Edited by FCI Staff

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