AZENTA ANNOUNCES LEADERSHIP TRANSITION
Rhea-AI Summary
Azenta (Nasdaq: AZTA) announced a leadership transition, appointing current director Dr. Martin Madaus as interim President and CEO following the resignation of John Marotta as executive officer and director. The Board has engaged Heidrick & Struggles to conduct a search for a permanent CEO.
Azenta reaffirmed its previously issued fourth quarter fiscal 2026 total revenue guidance. The company now expects Q4 fiscal 2026 adjusted EBITDA to reflect a one-time consulting expense of approximately $3 million, recorded in the quarter; excluding this charge, Azenta stated it would also be reaffirming adjusted EBITDA. The Board highlighted ongoing focus on its long-range strategic plan and capital deployment, while emphasizing confidence in Dr. Madaus, a Senior Operating Executive at Carlyle Group with over 30 years of diagnostics and life science tools leadership experience, to guide the company through the transition.
Positive
- Interim CEO with deep sector experience: Board member Dr. Martin Madaus, with 30+ years in diagnostics and life science tools, is appointed interim President and CEO
- Q4 FY2026 total revenue guidance reaffirmed: Azenta maintains its previously announced fourth quarter fiscal 2026 total revenue outlook
- Adjusted EBITDA effectively reaffirmed: Excluding a one-time approximately $3 million consulting charge, Azenta indicated it would be reaffirming fourth quarter fiscal 2026 adjusted EBITDA
Negative
- One-time $3 million consulting expense: Q4 fiscal 2026 adjusted EBITDA will be reduced by an approximately $3 million consulting charge
- CEO resignation and leadership transition: John Marotta resigned as an executive officer and director, prompting an interim CEO appointment and an ongoing search for a permanent CEO
AI-generated analysis. How Rhea-AI works. Not financial advice.
Current Director Dr. Martin Madaus Appointed Interim CEO
Company Reaffirms Previously Announced Fourth Quarter Fiscal 2026 Total Revenue Guidance
Dr. Madaus has served in multiple CEO roles in the diagnostics and life science tools industry and joined the Azenta Board in 2024 – making him the ideal individual to lead the Company during this transition. He is a Senior Operating Executive at the Carlyle Group Inc. (Nasdaq: CG) and has a proven track record of creating shareholder value in both public and private life science companies. Notably, he has served as Chairman, President and CEO of Millipore Corporation, Chairman and CEO of Ortho-Clinical Diagnostics, and President and CEO of Roche Diagnostics North America, a subsidiary of Roche Holding AG.
The Board has retained leading search firm Heidrick & Struggles, and a search process for a permanent CEO is underway. Additionally, the Company is reaffirming its fourth quarter fiscal 2026 total revenue guidance previously issued on August 4, 2026. The Company now expects fourth quarter fiscal 2026 adjusted EBITDA to be impacted by a one-time approximately
Frank E. Casal, Chairman of the Azenta Board, said, "Azenta's focus remains on executing our long-range strategic plan to drive profitable, sustainable value creation. The Board regularly analyzes the performance of our core business units and will continue to evaluate which areas merit targeted reinvestments, while also maintaining a disciplined approach to capital deployment. As discussed on our third quarter earnings call earlier this month, we have seen notable progress in terms of revenue and profitability, and the Board is confident that Martin is the ideal choice to help build on this positive momentum and guide Azenta during this transition period. His track record of successful leadership in our sector speaks for itself, and we believe his deep familiarity with our businesses from his time on the Board will help allow for a seamless transition for our customers, partners, and employees."
Dr. Madaus said, "I am pleased to be taking on this role and look forward to leading Azenta as we continue to focus on disciplined execution and advancing key initiatives in support of our strategic plan. I have long admired Azenta as a leader in the space and believe that, with the support of the Company's incredibly talented team, we can accelerate our efforts to meet our commitments and deliver value for shareholders."
Mr. Casal continued, "On behalf of the Board, I would like to thank John for his contributions to Azenta."
Dr. Martin Madaus Full Biography
Dr. Martin Madaus has more than 30 years of leadership experience in diagnostics and life science tools, both as an executive and a board member. He is a Senior Operating Executive at the Carlyle Group Inc. (Nasdaq: CG), a global investment firm with
He previously served as Chairman and CEO at Ortho-Clinical Diagnostics (now QuidelOrtho Corporation), Chairman, President and CEO of Millipore Corporation, and President and CEO of Roche Diagnostics North America, a subsidiary of Roche Holding AG (SWX: ROG).
He earned a Doctor of Veterinary Medicine Degree from the University of
"Safe Harbor Statement" under Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended
Some statements in this release are forward-looking statements made under Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are neither promises nor guarantees but involve risks and uncertainties, both known and unknown, that could cause Azenta's actual financial and business results to differ materially from those expressed or implied by such statements. They are based on the facts and assumptions known to management at the time they are made. Forward looking statements include, but are not limited to, statements regarding the Company's guidance, the Company's long-range plan, the Company's analyses of its core business units and its investments and capital deployment and the Company's expectations with respect to Dr. Madaus' role as Interim President and CEO and his impact on the Company's business, customers, partners, employees and shareholders.
Factors that could cause actual results to differ materially from those expressed or implied by forward looking statements include, but are not limited to: the Company's ability to ensure a smooth CEO transition; the Company's ability to execute on and realize the expected benefits from its transformation and operational improvement initiatives; changes in customer demand, purchasing behavior or funding conditions in the markets the Company serves; macroeconomic, geopolitical or regulatory developments; the impact of foreign currency fluctuations; the Company's ability to effectively manage costs, improve productivity and achieve anticipated margin improvements; supply chain disruptions; competitive dynamics; the ability of customers to meet payment obligations; risks relating to the collectability and timely repayment of the
About Azenta Life Sciences
Azenta, Inc. (Nasdaq: AZTA) is a leading provider of life sciences solutions worldwide, enabling life science organizations around the world to bring impactful breakthroughs and therapies to market faster. Azenta provides a full suite of reliable cold-chain sample management solutions and multiomics services across areas such as drug development, clinical research and advanced cell therapies for the industry's top pharmaceutical, biotech, academic and healthcare institutions globally. Our global team delivers and supports these products and services through our industry-leading brands, including GENEWIZ, FluidX, Ziath, 4titude, Limfinity, Freezer Pro, and Barkey.
Azenta is headquartered in Burlington, Massachusetts, with operations in North America, Europe, and Asia. For more information, please visit www.azenta.com.
AZENTA INVESTOR CONTACTS:
Yvonne Perron
Vice President, Financial Planning & Analysis and Investor Relations
ir@azenta.com
Maria Isabel Cuartas
Manager Investor Relations
ir@azenta.com
AZENTA MEDIA CONTACT:
Joe Germani / Dan Zacchei
Longacre Square Partners
LSP-Azenta@Longacresquare.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/azenta-announces-leadership-transition-302858250.html
SOURCE Azenta