Avantor realigns into Laboratory Solutions and Bioscience Production; targets $300M in cost savings by 2026

Avantor, Inc.

New segments: Laboratory Solutions (~$4.7B revenue) and Bioscience Production (~$2.3B revenue), effective Q1 2024.
Randy Stone named EVP Laboratory Solutions; Benoit Gourdier EVP Bioscience Production; Jim Bramwell EVP Sales, effective Jan 1, 2024.
Sheri Lewis (EVP Global Supply Chain) and Frederic Vanderhaegen (EVP Europe) to depart in 2024 after transition.
Cost optimization initiative targets $300M run-rate savings by end of 2026 through efficiency, footprint, and procurement.
FY2023 guidance reaffirmed; two years of historical segment data to be provided in February 2024.

item 5.02 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Frederic Vanderhaegen

Executive Vice President, Europe

AVTR · Avantor, Inc.

Filed: December 7, 2023, 6:59 PM ET

on December 1, 2023, the Company informed each of Sheri Lewis, the Company’s Executive Vice President, Global Supply Chain, and Frederic Vanderhaegen, the Company’s Executive Vice President, Europe, that each would depart from the Company in 2024 after supporting the Company’s transition to its new operating model.

Departed

Sheri Lewis

Executive Vice President, Global Supply Chain

AVTR · Avantor, Inc.

Filed: December 7, 2023, 6:59 PM ET

on December 1, 2023, the Company informed each of Sheri Lewis, the Company’s Executive Vice President, Global Supply Chain, and Frederic Vanderhaegen, the Company’s Executive Vice President, Europe, that each would depart from the Company in 2024 after supporting the Company’s transition to its new operating model.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Frederic Vanderhaegen departed as Executive Vice President, Europe at Avantor, Inc..

Action: depart
Role: Executive Vice President, Europe

Exact text from the filing

on December 1, 2023, the Company informed each of Sheri Lewis, the Company’s Executive Vice President, Global Supply Chain, and Frederic Vanderhaegen, the Company’s Executive Vice President, Europe, that each would depart from the Company in 2024 after supporting the Company’s transition to its new operating model.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Sheri Lewis departed as Executive Vice President, Global Supply Chain at Avantor, Inc..

Action: depart
Role: Executive Vice President, Global Supply Chain

Exact text from the filing

on December 1, 2023, the Company informed each of Sheri Lewis, the Company’s Executive Vice President, Global Supply Chain, and Frederic Vanderhaegen, the Company’s Executive Vice President, Europe, that each would depart from the Company in 2024 after supporting the Company’s transition to its new operating model.

View on SEC.gov

Avantor, Inc. filing history →

Source: SEC EDGAR

accession 0001722482-23-000207

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