Grifols CEO to become non-executive chairman in 2025

By Thomson Reuters Feb 29, 2024 | 8:27 AM

BARCELONA (Reuters) – The current chief executive and executive chairman of Spanish drug maker Grifols Thomas Glanzmann, who is due to leave as CEO and remain executive chairman on April 1, said on Thursday he will become the company’s non-executive chairman in 2025.

On Feb. 5, Grifols announced the appointment of Nacho Abia as its new CEO, a month after short-seller fund Gotham City Research questioned the company’s accounting in a damaging report that triggered a share slump.

“We will continue to focus on our corporate governance and implement relevant improvements when necessary,” Glanzmann told an analyst call.

“We will not pursue any new related party transactions,” he added, likely referring to Scranton Enterprises, an investment vehicle linked to the founding Grifols family.

The ties between Grifols and Scranton were at the core of the Gotham City Research report released in January that questioned Grifols’ reported debt and accounting and sent its share price tumbling.

(Reporting by Joan Faus; Writing by David Latona; Editing by Inti Landauro)