aaiPharma Switches CEOs Again
For the second time in less than a year, aaiPharma (AAII) has changed its top management.
The Wilmington, N.C.-based drug company said Tuesday that Frederick D. Sancilio, 54, the company's founder, would immediately step down as chairman, chief executive, president and chief science officer. Sancilio, however, will remain as a nonexecutive member of the board of directors of
The new president and CEO is Ludo Reynders, 50, who most recently held executive posts at Quintiles Transnational, a medical research services unit of Pharma Services in Durham, N.C.
In addition, aaiPharma chose a new nonexecutive chairman of the board, James G. Martin. He has been a board member since 1999 and is an executive with Carolinas HealthCare System, a regional health care organization. Martin, 68, was governor of North Carolina from 1984 to 1992.The new management team joins a company whose stock has dropped by about 95% from its 52-week high of $31.85 on Jan. 21. In premarket trading Tuesday, the stock gained 21 cents, or 15.6%, to $1.56.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV