Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.85
Bill Hartzel was appointed as Senior Vice President and head of bioservices (new role: manufacturing operations and Executive Management Team) at Emergent BioSolutions Inc..
- Action
- appointed
- Role
- Senior Vice President and head of bioservices (new role: manufacturing operations and Executive Management Team)
Exact text from the filing
The Company also announced that Bill Hartzel, Senior Vice President and head of bioservices, will assume responsibility for manufacturing operations and will join the Executive Management Team, reporting to the interim CEO, Haywood Miller.
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Executive change
SEC 8-K Item 5.02
confidence 0.95
Adam Havey departed as Chief Operating Officer at Emergent BioSolutions Inc..
- Action
- leaving
- Role
- Chief Operating Officer
Exact text from the filing
As such, Adam Havey, Executive Vice President and current COO, will be leaving the Company effective September 30, 2023.
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Restructurings & Charges
SEC 8-K Item 2.05/2.06
confidence 0.95
Emergent BioSolutions Inc. announced a restructuring with charges of approximately $19.0 million to $21.0 million in charges affecting Bayview facility in Baltimore, Maryland; Canton, Massachusetts; Rockville, Maryland drug product facility (approximately 400 employees).
- Type
- restructuring
- Charge
- approximately $19.0 million to $21.0 million in charges
- Affected area
- Bayview facility in Baltimore, Maryland; Canton, Massachusetts; Rockville, Maryland drug product facility
- Headcount
- approximately 400 employees
Exact text from the filing
On August 8, 2023, Emergent BioSolutions Inc. (the “Company”) announced an organizational restructuring plan (the “Restructuring Plan”) intended to strengthen its core business and financial position by reducing investment in and de-emphasizing focus on its CDMO services business for future growth. The Restructuring Plan includes a reduction of the Company’s current workforce by approximately 400 employees. Decisions regarding the elimination of positions are subject to local law and consultation requirements in certain countries, as well as the Company’s business needs. The Company estimates that it will incur approximately $19.0 million to $21.0 million in charges in connection with the Restructuring Plan, which it expects to incur in the third quarter of fiscal 2023. These charges consist primarily of cash charges related to severance (base bonus), transition services, and estimated benefits cost.
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