ConvaTec, which is rumored to be exploring a sale, said yesterday that it made its interim CEO, former EMEA president Paul Moraviec, to be its new permanent CEO.
Luxembourg-based ConvaTec, which is owned by private equity firms Avista Capital Partners and Nordic Capital, tapped Moraviec to lead its business in Europe, the Middle East and Africa in 2009.
"I look forward to working with the board as the CEO of ConvaTec," Moraviec said in prepared remarks. "I’m very excited about the future for our business and leading the company’s 9,000 employees in serving the patients, doctors and nurses who rely on us to help improve lives around the world."
Last December the medtech vet was named interim CEO, a couple of months after ConvaTec’s owners were said to Morgan Stanley and Goldman Sachs to explore a sale that could reach the $10 billion mark.
“We are pleased to confirm Paul’s appointment as the CEO of ConvaTec," added chairman Magnus Lundberg. "Over his 6 years with ConvaTec, Paul has built a successful business in Europe, and the company has performed well during his tenure as interim CEO. We’re confident that, under his leadership, the company is well positioned for the future."
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