Separated from Nestlé, Galderma has become the now largest independent global dermatology company, according to stakeholders.It offers a range of medical and consumer skin health solutions through three business units: aesthetics, prescription and consumer care, with combined revenues of CHF 2.8 billion and approximately 5,000 employees worldwide.
The company will be led in its next phase of growth and innovation by an experienced management team and board, with proven track records in building sustainable high-growth businesses in pharmaceutical and consumer industries.
Specifically, Dr. Flemming Ornskov, MD, MPH assumes the position as CEO, from Stuart Raetzman. Raetzman, having led Galderma and prepared the company for its separation from Nestlé, has joined the company’s board.
Thomas Dittrich has joined Galderma as CFO.
Also joining the board are chairman Thomas Ebeling, former CEO of Novartis Pharma, Novartis Consumer Health and ProSiebenSat1Media AG, and Sheri McCoy, former CEO of Avon Products and former vice chairman of Johnson & Johnson, who has been named a director.
Galderma, which owns Cetaphil in the consumer skin care market, will keep its headquarters in Switzerland.
The $10.2 billion acquisition deal, first announced in May 2019, was led by a consortium comprising the EQT VIII fund, Luxinva (a wholly-owned subsidiary of Abu Dhabi Investment Authority), PSP Investments and other institutional investors.