- Push-out Score determined
- After almost 16 years in the position
- Praise and thanks for Schatz
- Thierry Bernard taking over in the interim
- Search for a successor
- Schatz said 88 words
(exechange) — Venlo, Netherlands, October 7, 2019 — Peer Schatz, chief executive of Qiagen, leaves. As announced by Qiagen NV in a news release on Monday, October 7, 2019, Peer M. Schatz leaves his post as Chief Executive Officer at the provider of sample and assay technologies for molecular diagnostics after almost 16 years in the role.
It is the end of an era.
The announcement of Peer Schatz’s move comes 16 months after Håkan Björklund took over as Chairman of Qiagen N.V.
The exact date of Peer Schatz’s departure from his post was not explicitly specified in the announcement.
Qiagen will undertake a search for a successor.
Peer Schatz’s duties as CEO will be taken over in the interim by Thierry Bernard, currently Senior Vice President, Head of Molecular Diagnostics Business Area of Qiagen N.V., as interim Chief Executive Officer.
“To pursue other interests”
Peer Schatz’s departure from the CEO post is explained as follows. Håkan Björklund, Chairman of the Qiagen Supervisory Board, said: “We respect his decision to pursue other interests.”
Precise information regarding Peer Schatz’s future plans was not immediately available.
Qiagen said: “Peer M. Schatz, Chief Executive Officer, has notified the Company that, after 27 years at Qiagen, he has decided to step down as Chief Executive Officer and Chairman of the Management Board.”
Share price decline
The announcement follows a decline in Qiagen N.V.’s share price of 20% since July 2019.
Chaired by Håkan Björklund
Qiagen N.V. is chaired by Håkan Björklund.
Håkan Björklund was appointed as a new Supervisory Board Member in March 2017 and as Chairman of the Supervisory Board in June 2018.
In the position of CEO since 2004
Peer Schatz became CEO of the Company in January 2004.
He will remain with Qiagen as Special Advisor to the Supervisory Board and transition into this role in the coming weeks.
Peer Schatz joined Qiagen in 1993, and has been Chief Executive Officer since January 1, 2004.
He was Chief Financial Officer between 1993 and 2003 and became a member of the Managing Board in 1998.
Schatz was previously a partner in a private management buyout group in Switzerland, worked in finance and systems positions at Sandoz AG and Computerland, and participated in the founding of start-up companies in the computer and software trading industry in Europe and the United States.
Schatz graduated from the University of St. Gallen, Switzerland, with a Master’s degree in Finance in 1989 and obtained an M.B.A. in Finance from the University of Chicago Graduate School of Business in 1991.
Schatz served as a member of the German Corporate Governance Commission from 2002 to 2012.
He is a board member of AdvaMedDx, a U.S. trade association that leads the effort to advance medical technology in order to achieve healthier lives and healthier economies around the world and ALDA (the Analytical, Life Science and Diagnostics Association), a trade association of developers and suppliers in these fields. He is also Managing Director of PS Capital Management GmbH.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding the management change on a scale of 0 to 10.
exechange reached out to Qiagen and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 41.2019 ($).