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AAIPharma and CML’s CEO Resigns

April 9, 2014

Nestegard to fill the role on an interim basis

Patrick Walsh has resigned as chief executive officer of AAIPharma Services Corp. and Cambridge Major Laboratories, Inc. (CML). Susan Nestegard will take over for Mr. Walsh on an interim basis.
 
“Now that the initial foundation, leadership team and process initiatives have been identified, it is time for me to step down,” said Patrick Walsh. “Over the last six months, I was asked to shepherd the two organizations through the first phase of the integration process.”
 
Mr. Walsh joined AAIPharma Services Corp. in 2010 as chief executive officer. He has since led the organization through a number of successful transformations, including the 2013 transaction with American Capital, Ltd.
 
“On behalf of the board and the employees, I want to thank Pat for his contribution to the development and growth of our Company, and we wish him well in his new endeavors,” said Ms. Nestegard.
 
Ms. Nestegard serves on the companies’ boards of directors and has more than 30 years of experience in healthcare and R&D. Ms. Nestegard previously served as executive vice president and president, Global Healthcare, of Ecolab, Inc. She also serves on the boards of directors of American Capital, Ltd. and Hormel Foods Corp.
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