MDS has appointed chief operating officer Steve West as CEO, replacing Stephen DeFalco.
West is president of MDS Nordion, which became MDS’ primary business unit after the company launched a strategic repositioning effort last summer.
The Toronto-based company sold MDS Analytical Technologies and its late-stage contract research business in 2009 and has been seeking a buyer for its early-stage contract research unit, MDS Pharma Services, for several months. MDS Nordion will become MDS’ premier business line once a suitable buyer is found.
The company also announced that Peter Dans, MDS Nordion’s senior vice president, finance, will become the company’s chief financial officer (CFO) February 1. Current executive vice president and CFO Doug Prince plans to leave MDS March 1.
"With the strategic repositioning of MDS under way, the board believes it is appropriate to move forward with its CEO transition plan," said James MacDonald, chairman of MDS' board of directors, in a company statement. "We are confident that Steve's attention to financial performance and his track record of strengthening operations will serve the company well, both now and into the future.”