WILMINGTON,aaiPharma continues to restructure its management team and organization in the wake of financial reviewers earlier this year that slashed the price of its stock and triggered a rash of law suits as well as investigations.
The pharmaceutical firm on Monday named Michael George to the new position of chief administrative officer and executive vice president. He will report directly to Fred Sancilio, the founder of aaiPharma, who returned to his CEO role as part of the management changes.
George, 56, comes to aaiPharma with more than 30 years of experience in pharmaceutical and diagnostic companies. He has worked for Bristol Myers, Sandoz, DuPont, Merck and Urocor as well as a consultant.
“Michael’s experience will greatly enhance the various high-level administrative functions at the company that he will be overseeing, including Legal, IT, Finance and Facilities,” Sancilio said in a statement. “His addition greatly deepens our executive management team and will facilitate the implementation of our new and previously-announced processes and practices.”