EuroAPI, which produces drug ingredients, named Ludwig de Mot as its executive vice president and chief transformation officer as part of a strategic review that saw the company shed its CEO in October.
De Mot’s marching orders are to focus on speeding EuroAPI’s transformation, including completing and executing the company’s strategic review that started in the fourth quarter of last year.
That review covered all parts of the company and was initiated after EuroAPI slashed its revenue growth projection for the year in late summer to a new range of 3% to 5%, compared with 7% to 8% previously. At the time, the manufacturer pointed to pricing pressures due to lower inflation, coupled with inventory reduction programs implemented by some of its customers.
EuroAPI’s former CEO, Karl Rotthier, stepped down in October. He had led the company since 2021 when it was still a part of former parent Sanofi. It was spun out from Sanofi in 2022.
De Mot brings more than 30 years of experience in several industrial groups and was previously president and chief executive of various global operations of Lhoist, which specializes in lime and mineral-based products. More recently, de Mot has worked with companies undergoing transformations, the company said in a Jan. 4 press release.
“He will be instrumental in the transformation of our company, and I look forward to working with him in the best interests of all our stakeholders,” Viviane Monges, EuroAPI’s chief executive and board chair, said in the release.
In November, the company named David Seignolle its new chief operating officer and Marion Santin as chief legal, compliance and IP officer.