Emergent (EBS) CEO Abdun Nabi To Retire, Kramer To Succeed
Zacks Investment Research | Jan 06, 2019 10:09PM ET
Emergent BioSolutions Inc. (NYSE:EBS) announced that its board of directors has unanimously appointed Robert G. Kramer, Sr. as the company’s new president and chief executive officer (CEO) effective Apr 1, 2019. He will succeed Daniel J. Abdun-Nabi, the current CEO, who has decided to retire and also step down as a board member.
Notably, Nabi has held office as the company’s CEO since April 2012. During his tenure, Emergent evolved from a primarily biodefense company to a global, diversified life sciences one. Under his leadership, Emergent expanded its business to address some of severe public health issues in the United States and across other countries. The company also made some strategic investments in growth-driving projects, backed by some strong financial performances. The company’s revenue stream also grew significantly under his term.
Emergent completed two acquisitions in October 2018 under Nabi’s guidance.
Firstly, the company’s buyout of Adapt Pharma will add the latter’s Narcan nasal spray to its portfolio, thereby expanding footprint in the public health threats market. Secondly, the consolidation of specialty vaccine company, PaxVax, will add a couple of FDA approved vaccines to Emergent’s portfolio.
Meanwhile, Kramer evidently comes in with a baggage of vast experience, having joined Emergent in 1999 as the chief financial officer. Most recently, he served as the president and chief operating officer of the company. Building on the positive trend set by Nabi, management believes that the new CEO will be able to continue with the company’s momentum to strengthen its portfolio, generate shareholder value and fulfill its mission, which is to protect and enhance life.
Shares of Emergent have rallied 23.4% in the past year against the Zacks Investment Research
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