AAIPharma and CML Announce Patrick Walsh’s Resignation as CEO

AAIPharma Services Corp. and Cambridge Major Laboratories, Inc. have announced the resignation of Patrick Walsh as Chief Executive Officer together with the appointment of interim CEO, Susan Nestegard.

“Now that the initial foundation, leadership team and process initiatives have been identified, it is time for me to step down,” stated Patrick Walsh. “Over the last 6 months, I was asked to shepherd the two organizations through the first phase of the integration process,” added Mr. Walsh.

Mr. Walsh joined AAIPharma Services Corp. in 2010 as Chief Executive Officer. Since that time, he has led the organization through a number of successful transformational changes, 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,” commented Ms. Nestegard.

A current member of the Companies’ Boards of Directors, Ms. Nestegard brings over 30 years’ experience in healthcare and research and development.

Ms. Nestegard is the former 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 Corporation.