RADNOR, PA – Avantor, Inc. (NYSE:AVTR), a global provider of mission-critical products and services to customers in the biopharma, healthcare, education & government, and advanced technologies & applied materials industries, announced on Monday that Executive Vice President, Sales and Customer Excellence, Jim Bramwell, has informed the company of his intention to retire on or around June 30, 2025.
Mr. Bramwell, who has been with Avantor for over three decades, plans to retire to pursue a full-time service opportunity within his faith. His decision to leave the company was communicated to Avantor on January 6, 2025, according to a recent filing with the U.S. Securities and Exchange Commission (SEC).
During his tenure, Mr. Bramwell has been instrumental in the company's growth and operational excellence, contributing to Avantor's position as a leader in the laboratory analytical instruments sector. The company has not yet announced a successor or detailed plans for the transition of Mr. Bramwell's responsibilities.
The announcement comes as part of a Form 8-K filing, a requirement for publicly traded companies to disclose certain material events. The filing did not include any additional financial details or changes to Avantor's guidance to investors.
Avantor, headquartered at Radnor Corporate Center in Radnor, Pennsylvania, has been a key player in its industry with a comprehensive portfolio that supports the most critical research, development, and production activities of its customers globally.
The market's reaction to the news will be watched closely, as executive changes can often influence investor confidence and stock performance. According to InvestingPro data, Avantor has demonstrated low price volatility and maintained profitability over the last twelve months, with a P/E ratio of 48.51. The stock, listed on the New York Stock Exchange under the ticker AVTR, will continue to be monitored for any shifts resulting from this announcement. InvestingPro analysis suggests the stock is currently trading slightly above its Fair Value.
This news is based on a press release statement and provides the latest information regarding Avantor's executive team as disclosed to the SEC. Investors following this development can access comprehensive analysis through InvestingPro, which offers detailed insights into Avantor's financial health (rated as GOOD) and reveals 4 additional ProTips. The company's next earnings announcement is scheduled for January 30, 2025, which may provide further clarity on the transition plan.
In other recent news, Avantor Inc (NYSE:AVTR). reported third-quarter revenue of $1.71 billion, a slight organic decline year-over-year, yet its adjusted earnings per share (EPS) increased to $0.26. The company also successfully divested its clinical services assets, a strategic move expected to reduce debt and improve net leverage. In the wake of this financial update, Avantor adjusted its free cash flow guidance for the year to over $750 million.
Citi maintains a Neutral rating for Avantor, emphasizing the company's consistent lab activity and potential margin trajectory following the divestiture. Despite not committing to specific financial targets for 2025, Avantor's management expressed confidence in the company's future setup, supported by recent positive trends in order activity and lab operation stability.
Baird, despite reducing Avantor's price target, reaffirmed their positive stance on Avantor, maintaining an Outperform rating. This positive outlook is echoed by Avantor's management, who anticipate mid-to-high single-digit growth in the bioprocessing segment for the fourth quarter.
In addition to these financial updates, Avantor appointed Dame Louise Makin to its Board of Directors. Her extensive experience in the healthcare sector is expected to contribute significantly to the company's strategic growth. These are recent developments that reflect Avantor's continuous adaptation to the shifting landscape, with a focus on delivering value to its stakeholders.
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