Long-serving ALSO Holding chairman Thomas C. Weissman announces his stepping down from the ALSO board, to take place on the date of the company's 2014 annual general meeting.
"After 26 years working for ALSO it is time to make room for others," Weissman says. "The company is now a strong number three in Europe and displays a sustainable profitability which is substantially better than that of the competition, so I can place the fate of the company in other hands with a good conscience."
The chairman gives no further word on his retirement other than "personal reasons."
According to the distributor Weissman's tenure as CEO and chairman saw ALSO sales growing from around €50 million in 1989 to over €3 billion in 2010, before reaching €6bn following the merger with Actebis.
The ALSO board should announce a new chairman in the coming months.