This will see Smith take over as the next CEO of Viatris on April 1, 2023. Until then, CEO Michael Goettler will stay on board to ensure a smooth transition. This will see him give up the CEO position, as well as his Board seat when Smith joins the company.
Smith has served on the Board of Directors at Viatris since 2022 and, before that, held leadership roles with other healthcare companies. That includes acting as the president and COO of Celgene.
Robert Coury, executive chairman of Viatris, said the following about the CEO change in a news release:
“As we now prepare to enter into Phase 2 of our evolution for 2024 and beyond, we believe Scott Smith is the absolute right leader to guide Viatris into a period of renewed growth and leadership in our sector.”
VTRS Stock Movement Today
News of the CEO change isn’t resulting in massive changes to VTRS stock on Monday. Only around 4 million shares have changed hands, which is still below the company’s daily average trading volume of about 8.9 million shares.
To go along with that, VTRS stock is up 1.4% as of Monday morning.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.