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AMRI Announces Executive Leadership Changes

Stocks in this article: AMRI

ALBANY, N.Y., Sept. 9, 2013 /PRNewswire/ --  Albany Molecular Research, Inc. (NASDAQ: AMRI), a leading global contract research and manufacturing organization, announced that Thomas E. D'Ambra, Ph.D. will retire as President and Chief Executive Officer of the Company, effective December 31, 2013. Dr. D'Ambra will be named the Company's non-executive Chairman of the Board of Directors on the same date.

Dr. D'Ambra will be succeeded as President and CEO by Mr. William S. Marth, currently non-executive Chairman of the AMRI Board, effective January 1, 2014. Mr. Marth will remain a member of the Company's Board of Directors.

Dr. D'Ambra , AMRI's founder, commented, "I am very proud of what AMRI has accomplished since my founding of the Company over 22 years ago. We have achieved a track record of success in providing customers with a full range of high quality services together with informed decision-making, enhanced efficiency and more successful outcomes at all stages of the drug development process. With forecasted revenue approaching $250 million in 2013 and more than 1,300 employees worldwide, our business today supports more than 100 clinical and commercial programs for over 300 companies and shows great promise for the future."

"I have been fortunate to have worked with a large number of current and former colleagues who have helped create and grow this wonderful organization and believe that market dynamics and the evolving business climate favor the continued growth of strategic outsourcing," continued Dr. D'Ambra. "It is the right time for me to turn over the reins to a new leader and I am truly excited that Bill Marth will be leading the organization, particularly at this stage in the company's evolution. Under Bill's leadership I am confident the long term growth prospects for AMRI are bright and I look forward to working with and supporting Bill and the leadership team by re-assuming my role as Chairman."

Mr. Marth commented, "I am very pleased to accept the role of President and Chief Executive Officer at AMRI during this exciting time. Dr. D'Ambra and his leadership team have built a very successful company and I look forward to continuing that tradition of success by executing on the current strategies, as well as identifying new opportunities to further build value for AMRI shareholders, employees and customers."

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