Azenta names interim CEO after Marotta resigns; shares fall
AZTA•Shares fall on CEO change
** Shares of Azenta AZTA.O fall 10.5% to $33.47
** Co says John Marotta has resigned as CEO, effective immediately
** Martin Madaus, current board member and a senior operating executive at Carlyle, has been appointed interim CEO; search for permanent CEO underway - AZTA
** Co adds Madaus has served in multiple CEO roles in the diagnostics and life science tools industry and joined the Azenta Board in 2024
Q4 EBITDA impact and market commentary
** AZTA expects Q4 adjusted EBITDA to be impacted by a one-time consulting expense of about $3 million
** "While interim CEOs sometimes have a tricky role (managing the day to day while also retaining enough flexibility for new incoming CEO to finetune the strategy), we believe AZTA is in a relatively good spot" - Evercore ISI
** Including session moves, stock up 2% YTD
