Stada Names Novartis Exec as New CEO, It's Fifth Leader Since 2016

STADA Arzneimittel AG will get its fifth chief executive officer in a little over two years as the German maker of copycat pills taps a Novartis AG manager to take over from Claudio Albrecht, who was brought in four months ago by the drugmaker’s new owners.

Peter Goldschmidt, who heads the North American operations of Novartis’s generics unit Sandoz, will take the helm at the Bad Vilbel, Germany-based company on Sept. 1, Stada said in a statement Thursday. Albrecht will move to a nonexecutive position, as planned when he was appointed last year, Stada said.