Männedorf, Switzerland, January 15, 2019 - The Tecan Group (SIX Swiss Exchange: TECN) announced today the retirement of Tecan CEO Dr David Martyr after 6 1/2 years at the helm of the company. The Board of Directors has appointed Dr Achim von Leoprechting, Head of Tecan's Partnering Business division, as the new Chief Executive Officer. He will assume the CEO role on April 1, 2019. Achim von Leoprechting will continue in his role as Head of the Partnering Business Division in addition to the new position until a successor for this role has been appointed.
Dr Lukas Braunschweiler, Chairman of Tecan's Board of Directors commented: "After another very successful business year 2018, Tecan is in a strong position with tremendous opportunities for the future. With Achim von Leoprechting, we have found an ideal candidate for the CEO succession. It is the first time in the history of Tecan that the Board was able to pick an internal successor - a clear evidence of the strong leadership team that was formed in recent years. The internal appointment also maximizes continuity of the corporate strategy."
Tecan CEO Dr David Martyr said: "I am very pleased that the Board has appointed Achim von Leoprechting as the new CEO of Tecan. He has an ideal background to lead Tecan through his extensive experience in both the life science research and in-vitro diagnostic industries. Under Achim von Leoprechting's leadership, Tecan's Partnering Business has grown by an average rate of more than 9% per year and, with several newly signed development and supply agreements, it is well positioned for further growth. His deep understanding of the end markets and his application expertise will help the company to further benefit from major growth drivers and expand Tecan's position as a complete solution provider in select applications."
Dr Achim von Leoprechting said: "Tecan is a leading provider and well-respected brand in our industry and I am very excited taking on the CEO position of such an exceptional company. In a very dynamic environment that many refer to as the 'century of biology', I very much look ahead to continue the successful development of Tecan together with my colleagues in the leadership team and all the dedicated and talented colleagues around the World."
Achim von Leoprechting joined Tecan in October 2013 as a member of the Management Board and Head of the Partnering Business division. He has 20 years of experience in a wide range of management positions in the life science industry. From 2002-2013, he has worked in various areas and held diverse positions with increasing management responsibility at PerkinElmer Inc. (NYSE:PKI), most recently as a Vice President and General Manager in the Life Science division.
Achim von Leoprechting has a doctorate in biology from the University of Freiburg (Germany). He is 50 years old and a German national.
"David Martyr has put Tecan back on a strong growth track and significantly expanded profitability", concluded Lukas Braunschweiler. "During his tenure, Tecan's sales expanded by over 50% since 2012, with around two thirds of the increase derived from organic growth, mainly through product innovation and regional expansion. Of particular note is the share of recurring revenues, which has increased in recent years from about 30% to now around 42% of overall sales, including first time contributions from smart consumables and reagents from synergetic M&A transactions. The Board of Directors sincerely thanks David Martyr for these outstanding accomplishments and wishes him the very best for his retirement."
Conference call and webcast
Tecan will host a conference call and webcast for investors, analysts and media today at 1:30 PM CET to discuss today's announcement. The presentation will also be relayed by live audio webcast, which interested parties can access at www.tecan.com. A link to the webcast will be provided immediately prior to the event.
The dial-in numbers for the conference call are as follows:
For participants from Europe: +41 (0)58 310 50 00 or +44 207 107 0613 (UK)
For participants from the US: +1 (1) 631 570 5613
Participants should if possible dial in 15 minutes before the start of the event.
About Tecan
Tecan (www.tecan.com) is a leading global provider of laboratory instruments and solutions in biopharmaceuticals, forensics and clinical diagnostics. The company specializes in the development, production and distribution of automated workflow solutions for laboratories in the life sciences sector. Its clients include pharmaceutical and biotechnology companies, university research departments, forensic and diagnostic laboratories. As an original equipment manufacturer (OEM), Tecan is also a leader in developing and manufacturing OEM instruments and components that are then distributed by partner companies. Founded in Switzerland in 1980, the company has manufacturing, research and development sites in both Europe and North America and maintains a sales and service network in 52 countries. In 2017, Tecan generated sales of CHF 548 million (USD 560 million; EUR 494 million). Registered shares of Tecan Group are traded on the SIX Swiss Exchange (TECN; ISIN CH0012100191).
For further information:
Tecan Group
Martin Brändle
Vice President, Communications & Investor Relations
Tel. +41 (0) 44 922 84 30
Fax +41 (0) 44 922 88 89
investor@tecan.com
www.tecan.com
