# Spain’s Grifols names current chairman as CEO, ending family leadership Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2023-05-08 Category: NEWS Category URL: https://financedigest.com/category/news Meta Title: Grifols Appoints Chairman as CEO: Family Leadership Ends Meta Description: Read about Grifols' latest leadership change as Thomas Glanzmann takes over as CEO, marking the end of the founding family's executive era amid URL: https://financedigest.com/spains-grifols-names-current-chairman-as-ceo-ending-family-leadershiphtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/2023-05-08t062252z1lynxmpej4705ertroptp4biotest-m-a-grifols-1736814056273-compressed.jpg) # Spain’s Grifols names current chairman as CEO, ending family leadership By Joan Faus BARCELONA (Reuters) -Grifols said on Monday its executive chairman Thomas Glanzmann will become its new chief executive with immediate effect, ending the founding family’s executive leadership at a time of turmoil within the Spanish pharmaceutical group. Glanzmann, who had served as the board’s vice chairman since 2017, was appointed chairman in February after Steven F. Mayer resigned as Grifols’ [executive chairman](https://www.financedigest.com/wagamama-owner-restaurant-group-names-former-cadbury-executive-ken-hanna-chairman.html "Wagamama-owner Restaurant Group names former Cadbury executive Ken Hanna chairman") due to health and other personal reasons. The company had until now two co-CEOs belonging to the Grifols founding family who are [set to assume new roles](https://www.financedigest.com/negotiating-our-future-youth-set-to-grab-power-roles-at-cop27.html "‘Negotiating our future’: Youth set to grab power roles at COP27"). Victor Grifols Deu will become chief operating officer and remain a [board member](https://www.financedigest.com/bottlenecks-supply-problems-improving-at-abb-robotics-division-board-member.html "Bottlenecks, supply problems improving at ABB robotics division – board member"), while Raimon Grifols will also retain his spot on the board and take on the post of chief corporate officer. The Barcelona-based company, which uses [blood plasma](https://www.financedigest.com/the-blood-plasma-market-to-show-innovation-based-steadiness.html "The Blood Plasma Market to show innovation-based steadiness") to make medicines, was severely hit at the start of the pandemic due to plasma shortages. Its 2023 [outlook disappointed analysts earlier this year despite recovering its supply](https://www.financedigest.com/oil-rises-to-7-year-high-as-turkey-outage-adds-to-tight-supply-outlook.html "Oil rises to 7-year high as Turkey outage adds to tight supply outlook"). As it seeks to significantly cut its debt, Grifols said in February it would lay off 8.5% of its workforce with the goal of saving around 400 [million euros](https://www.financedigest.com/sp-global-fined-1-1-million-euros-for-premature-credit-rating-publications.html "S&P Global fined 1.1 million euros for premature credit rating publications") ($441.7 million) annually. In a bid to speed up its recovery, Grifols had announced in October of [last year that its chairman would have executive powers](https://www.financedigest.com/lasting-powers-of-attorney-your-clients-questions-answered.html "Lasting Powers of Attorney – your client’s questions answered"), limiting the scope of the two co-CEOs at that time. ($1 = 0.9056 euros) (Reporting by Joan Faus; Editing by David Latona and Louise Heavens) --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---