Cambrex announces CEO to retire, management changes

Cambrex, a small molecules company based in East Rutherford, announced on Tuesday its CEO Steven Klosk is retiring from his role on June 30.

Klosk, who’s been with the company for 28 years, is also stepping down as member of the board of directors. The board said it is currently in the “advanced stages” for a replacement. In the interim, the company will be led by an Office of the CEO comprised of Wayne Hewett, chairman of the board; Robert Green, executive vice president and chief financial officer; and Samatha Hanley, senior vice president and general counsel.

“The Cambrex team has been like family to me, and it has been an honor to contribute to the tremendous growth of such a special company,”  Klosk said. “I am so proud of our employees whose technical expertise, dedication and integrity have enabled us to earn and maintain trusted relationships with our global clients at every stage of the drug lifecycle. I am confident the company is on a path towards continued success well into the future.”

In addition to Klosk’s retirement, Shawn Cavanagh is also stepping down as president, chief operating officer and member of the board. He will take on a strategic advisor role for 12 months once a CEO is named.

“It has been a privilege to work alongside Steve and our 2,100 employees to make Cambrex the premier CDMO in our space, distinguishing ourselves for our commitment to quality, innovation and end-to-end partnerships with our clients,” Cavanagh said. “I look forward to working closely with our new CEO and the Board over the coming months to ensure the company is well positioned for this next phase in its journey.”