Inotiv, Inc. Announces Changes to Board of Directors
Inotiv, Inc. (NASDAQ: NOTV) announces David Landman as the new Shareholder Representative on its Board of Directors, succeeding Scott Cragg. Cragg is stepping down to focus on his role as Partner at AS Birch Grove. Landman, a Senior Adviser at Perella Weinberg Partners, brings significant experience in financing and mergers. He will serve the remaining Class III term and chair the Compensation Committee. Inotiv, a contract research organization, aims to enhance its strategic growth following the acquisition of Envigo in November 2021. The management transition is positioned to leverage Landman’s expertise for future growth opportunities.
- David Landman’s extensive experience in financing and mergers could enhance strategic initiatives.
- Transition in leadership may bring fresh perspectives to Inotiv’s growth plans.
- Scott Cragg's departure might raise concerns about continuity in leadership.
WEST LAFAYETTE, Ind., Jan. 23, 2023 (GLOBE NEWSWIRE) -- Inotiv, Inc. (NASDAQ: NOTV) (the “Company”, “We”, “Our” or “Inotiv”), a leading contract research organization specializing in nonclinical and analytical drug discovery and development services and research models and related products and services, today announced that David Landman has been designated by Jermyn Street Associates LLC as its Shareholder Representative on the Board of Directors, replacing Scott Cragg, who is stepping down to focus on his position as Partner at AS Birch Grove.
“Since Inotiv’s acquisition of Envigo in November 2021, I have had the privilege of serving on Inotiv’s Board of Directors and supporting the Company’s evolution into a multi-service discovery and pre-clinical contract research organization,” said Scott Cragg. “2022 was a year of transition and, with the excellent leadership team in place, Inotiv is now poised to leverage its market leading pre-clinical product and service offering to deliver on its strategic growth plans.”
David Landman brings extensive experience and expertise in financing, mergers and acquisitions, strategic execution and board level decision making. Mr. Landman is a Senior Adviser at Perella Weinberg Partners, a leading global independent investment bank. Mr. Landman joined Perella Weinberg Partners as a Partner in 2007 and has served in London and New York as the Firm's Chief Operating Officer and Head of Capital Markets Advisory. Since 2016, Mr. Landman has been a Senior Adviser focused on capital markets and mergers and acquisitions advice. From 1987 to 2006, Mr. Landman was a Managing Director at Morgan Stanley International, where he was Head of European Capital Markets Execution, Investment Banking Chief Operating Officer, and a member of Morgan Stanley's Equity and Capital Commitment Committees.
“On behalf of Inotiv and its Board of Directors, I want to express my gratitude to Scott for his dedicated service to our company and its shareholders,” said Robert Leasure, Jr., President and Chief Executive Officer of Inotiv. “We look forward to working with David and leveraging his deep experience and relationships to support our strategic growth initiatives.”
Mr. Landman will assume the remainder of Scott Cragg’s Class III term as director. Mr. Landman will serve as Chair of the Compensation Committee of Inotiv’s Board. Mr. Landman qualifies as an independent director under the definition established in the NASDAQ listing rules.
About Inotiv
Inotiv, Inc. is a leading contract research organization dedicated to providing nonclinical and analytical drug discovery and development services and research models and related products and services. The Company’s products and services focus on bringing new drugs and medical devices through the discovery and preclinical phases of development, all while increasing efficiency, improving data, and reducing the cost of taking new drugs to market. Inotiv is committed to supporting discovery and development objectives as well as helping researchers realize the full potential of their critical R&D projects, all while working together to build a healthier and safer world. Further information about Inotiv can be found here: https://www.inotivco.com/.
This release may contain forward-looking statements that are subject to risks and uncertainties including, but not limited to, risks and uncertainties related to changes in the market and demand for our products and services, the development, marketing and sales of products and services, changes in technology, industry and regulatory standards, the timing of acquisitions and the successful closing, integration and business and financial impact thereof, governmental regulations, inspections and investigations, the impact of site closures and consolidations, expansion and related efforts, and various other market and operating risks, including those detailed in the Company's filings with the U.S. Securities and Exchange Commission.
| Company Contact Inotiv, Inc. Beth A. Taylor, Chief Financial Officer (765) 497-8381 btaylor@inotivco.com | Investor Relations The Equity Group Inc. Devin Sullivan (212) 836-9608 dsullivan@equityny.com | |
FAQ
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