Skip to content
Subscriber Only

Lonza Chief to Make Deep Overhaul Drawing on BASF Experience

Lonza Group AG Chief Executive Officer Richard Ridinger said his review of the Swiss drug-ingredient maker may lead to disposals and management changes as he forecast lower-than-expected 2013 earnings.

Lonza dropped as much as 6.6 percent, the steepest intraday decline in a year, and traded 4 percent lower at 53.1 Swiss francs at 10:45 a.m. in Zurich. Ridinger forecast growth in earnings before interest and taxes of about 10 percent this year to 369 million francs ($396 million), compared with an average estimate of 413 million francs in a Bloomberg survey of analysts.