Mettler-Toledo International Inc. Announces CEO Transition

Rhea-AI Summary

Mettler-Toledo International Inc. (MTD) announced CEO Olivier Filliol's resignation after 13 years, effective April 1, 2021. Patrick Kaltenbach, previously President of Life Sciences Segment at Becton Dickinson, will succeed him. Filliol remains on the Board, aiding with marketing and organizational matters. The transition is positioned as advantageous, with Filliol citing Mettler-Toledo's strong organizational health and growth momentum. The company boasts over 16,000 employees and strong global presence, with a commitment to sustainability, achieving carbon neutrality in 2020.

Positive

• Patrick Kaltenbach has a strong track record of driving growth and increasing operating income, which could benefit MTD.
• Filliol's continued presence on the Board may provide stability during the transition.

Negative

• None.

COLUMBUS, Ohio, Dec. 15, 2020 /PRNewswire/ -- Mettler-Toledo International Inc. (NYSE: MTD) today announced that Olivier Filliol, after 13 years as CEO, has chosen to step down and the Board of Directors has agreed on a CEO transition. Patrick Kaltenbach, President of the Life Sciences Segment at Becton Dickinson, will join the Company in January and assume the CEO position from Filliol on April 1, 2021. Filliol will remain a member of the Board of Directors, and in addition, he will support the Company in marketing and other organizational matters. 

Robert Spoerry, Chairman of the Board, stated, "We want to sincerely thank Olivier for his tremendous contributions as CEO. Under his excellent leadership, METTLER TOLEDO strengthened its strategy, enhanced its market position and developed powerful and highly innovative corporate programs. He fostered a commitment and enthusiasm for operational excellence that have translated into outstanding financial results and position the Company very well for the future. We are pleased that Olivier will remain on the Board and METTLER TOLEDO will continue to benefit from his unique expertise."

Patrick Kaltenbach joined Becton Dickinson in 2018 to lead its Life Sciences Segment, which has annual revenues in excess of $4.5 billion. He was President of Life Sciences and Applied Markets Group at Agilent from 2014 to 2018. Previously, he held wide-ranging and increasing leadership roles at Agilent and its predecessor company, Hewlett Packard, since joining in 1991.

Spoerry commented, "It is with excitement and great confidence that we welcome Patrick as the next CEO of METTLER TOLEDO. Patrick has a strong record of driving growth, gaining market share and increasing operating income. He brings extensive global experience and industry know-how to the Company. We are convinced Patrick will be an excellent cultural fit, and he is committed to continue to drive our current strategic growth initiatives."

Filliol commented, "I am very happy to welcome Patrick to METTLER TOLEDO and look forward to working with him. The timing of this transition is ideal, as our organization has never been stronger. We have an exceptional team throughout the world, and our strategic growth initiatives and corporate programs, including Spinnaker and SternDrive, are well advanced and have strong momentum. I am confident that Patrick will lead the team to further our successful track record."

METTLER TOLEDO is a leading global supplier of precision instruments and services. We have strong leadership positions in all of our businesses. We have a workforce of more than 16,000 and a direct presence in approximately 40 countries with manufacturing operations in Europe, the Americas and Asia. With proven organic growth strategies and a focus on execution, we have achieved a long-term track record of strong financial performance. Our long-term orientation has produced extensive sustainability achievements including attaining carbon neutral status in 2020. For more information, visit www.mt.com.

View original content:http://www.prnewswire.com/news-releases/mettler-toledo-international-inc-announces-ceo-transition-301193519.html

SOURCE Mettler-Toledo International Inc.

FAQ

Who is the new CEO of Mettler-Toledo International Inc. (MTD)?

Patrick Kaltenbach will become the new CEO of Mettler-Toledo International Inc. on April 1, 2021.

What did Olivier Filliol contribute to Mettler-Toledo during his tenure?

Olivier Filliol enhanced Mettler-Toledo's market position and operational excellence, leading to outstanding financial results.

What is Patrick Kaltenbach's background before joining Mettler-Toledo?

Patrick Kaltenbach previously served as President of the Life Sciences Segment at Becton Dickinson, generating over $4.5 billion in annual revenues.

What are some achievements of Mettler-Toledo during Filliol's leadership?

Under Filliol, Mettler-Toledo achieved carbon neutrality in 2020 and strengthened its strategic growth initiatives.