Maravai LifeSciences Announces CEO Leadership Transition
October 03 2022 - 4:05PM
Maravai LifeSciences, Inc. (NASDAQ: MRVI), a global provider of
life science reagents and services to researchers and biotech
innovators, announced today that its Board of Directors has
appointed William “Trey” Martin, III as its chief executive officer
(CEO). Mr. Martin comes to Maravai most recently from Danaher
Corporation, where he was the Senior Vice President of New
Business, Genomic Medicine. Maravai’s first CEO and co-founder Carl
Hull will directly support Mr. Martin during this leadership
transition and will remain with Maravai as Executive Chairman of
the Board where he will continue to guide the company’s long-term
strategy.
“Trey has established a strong leadership track record over the
course of his career in nucleic acid synthesis, and has experience
leading global teams, managing complex R&D programs, driving
global commercial initiatives, and executing strategic
acquisitions. Additionally, he has a stellar reputation for driving
employee engagement and operational excellence,” said Carl Hull,
Executive Chairman of Maravai. “Through my personal and
professional interactions with Trey over the past fifteen years,
and from my unique perspective as both a Board member and a
significant shareholder, it is clear to me that he is the right
choice to lead Maravai through its next phase of growth. I fully
expect that his leadership and industry knowledge will benefit our
customers, employees, and shareholders.”
Constantine “Dean” Mihas, Maravai Board member
and Co-CEO and Managing Director of GTCR commented, “On behalf of
Maravai’s Board of Directors, I want to thank Carl for his
partnership over many years of service, during which time he formed
Maravai and subsequently oversaw an extraordinary period of growth
and operational expansion as CEO. We look forward to our ongoing
collaboration with him in his new capacity as Executive Chairman of
the Board, where we will continue to benefit from his guidance,
business leadership and industry expertise.”
“Succession planning is one of the most
important responsibilities we have as a board and we all were
incredibly impressed by Trey’s expertise in genomics, particularly
in the areas of mRNA, gene editing and nucleic acid chemistry. We
also believe that his experience as a strategic operator in our
space, along with his innate passion for the field, will enable him
to drive Maravai’s growth strategy going forward,” added Mihas.
“I am thrilled to be joining Maravai, a global
leader in nucleic acid production and biologic safety testing, at
this exciting time in the company’s evolution. I want to commend
Carl for his leadership and thank him and the Board for their
confidence in me,” said Trey Martin, CEO of Maravai. “I look
forward to leading the outstanding team at Maravai, as we seek to
further advance the field and enable the development of drug
therapies, diagnostics and novel vaccines.”
Mr. Martin brings more than 25 years of executive leadership
experience in life sciences operations, engineering, sales and
marketing. He was most recently Senior Vice President, Genomic
Medicines, at Danaher Corporation. Mr. Martin originally joined
Danaher with the acquisition of Integrated DNA Technologies (IDT)
in 2018, and served as President of the IDT business there for over
three years.
Prior to its acquisition, Mr. Martin held positions of
increasing responsibility over more than two decades at IDT and
contributed to the consistent growth and competitiveness of the
company’s primary oligo synthesis business through organic and
inorganic growth investments. Mr. Martin holds a Bachelor’s in
biochemistry from the University of Iowa.
Mr. Hull will remain involved with the strategic direction of
Maravai as the Executive Chairman of the Board and will work
together with Mr. Martin to help drive the Company forward. His
focus will also be on supporting Mr. Martin throughout this
leadership transition and leveraging their complementary skillsets
to further improve the business. Mr. Hull co-founded Maravai in
2014.
The Company will further discuss the management transition plan
on its third quarter 2022 earnings call currently scheduled for
November 2, 2022.
About Maravai Maravai is a leading life
sciences company providing critical products to enable the
development of drug therapies, diagnostics, and novel vaccines and
to support research on human diseases. Maravai’s companies are
leaders in providing products and services in the fields of nucleic
acid synthesis and biologics safety testing to many of the world's
leading biopharmaceutical, vaccine, diagnostics, and cell and gene
therapies companies.
Forward-looking StatementsThis press release
may contain "forward-looking statements" within the meaning of the
safe harbor provisions of the U.S. Private Securities Litigation
Reform Act of 1995. Investors are cautioned that statements in this
press release which are not strictly historical statements
constitute forward-looking statements, including, without
limitation, statements related to our expectations for continued
long-term growth and further success, constitute forward-looking
statements identified by words like “will,” “expect,” “may,”
“anticipate,” or “could” and similar expressions. Such
forward-looking statements are subject to a number of risks and
uncertainties that could cause actual results to differ materially
from those anticipated, including continued demand for our COVID-19
related products and services, which currently comprise a
significant portion of our revenue. These and other risks and
uncertainties are described in greater detail in the “Risk Factors”
section of our most recent Annual Report on Form 10-K and other
filings with the U.S. Securities and Exchange Commission. Actual
results may differ materially from those contemplated by these
forward-looking statements, and therefore you should not rely upon
them. These forward-looking statements reflect our current views
and we do not undertake to update any of these forward-looking
statements to reflect a change in its views or events or
circumstances that occur after the date hereof except as required
by law.
Contact Information:
Media Contact: Sara Michelmore
MacDougall
+1 781-235-3060
maravai@macdougall.bio
Investor Contact: Deb Hart
Maravai LifeSciences
+ 1 858-988-5917
ir@maravai.com
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