MONTREAL, April 8 2014 – Atrium Innovations Inc. (“Atrium” or the “Company”), a globally recognized leader in the development, manufacturing and commercialization of innovative, science-based natural health products, announced today that Pierre Fitzgibbon, President and CEO of Atrium, will step down from the Company in 2014, by mutual agreement with the Board of Directors. Mr. Fitzgibbon will remain President and CEO while the Board conducts a search for his replacement and will continue to be one of Atrium’s largest individual shareholders after his departure.
On behalf of Atrium’s owners – the Permira Funds, Fonds de solidarité FTQ and Caisse de dépôt et placement du Québec – John Coyle, Partner at Permira, said, “Pierre’s leadership has been critical to developing Atrium and its portfolio of leading global brands into the successful business it is today. We are grateful for his contributions and are pleased that he has agreed to remain in his position to ensure a smooth management transition over the coming months. Atrium has tremendous opportunities ahead and we are confident we will identify a world-class leader to continue the company’s accelerated growth and expansion.”
Mr. Fitzgibbon stated, “I am very proud of what our team has achieved and believe that we have established a very strong platform from which the Company can pursue growth and continue to provide outstanding products for our customers. Leading Atrium for the past seven years has been a very rewarding experience in my career and both the Board and I concluded that 2014 is the right time for the Company to find a new leader as I am eager to pursue other interests.”
The Board has retained Spencer Stuart, one of the world’s leading executive search consulting firms, to conduct the CEO search. Separately, the Board has also retained J. Robert Swidler & Associates, based in Montreal, to lead the search for a Québec resident Chairman.
Atrium Innovations Inc. is a globally-recognized leader in the development, manufacturing, and commercialization of innovative, science-based natural health products which are distributed in more than 35 countries. The Company owns healthcare practitioner and specialized retail product brands that are at the forefront of science, innovation and education. Atrium has over 1,300 employees and operates seven manufacturing facilities with current Good Manufacturing Practices. Additional information is available at www.atrium-innovations.com.
Vice President and Chief Financial Officer