Azenta named board member Dr. Martin Madaus as interim president and CEO after John Marotta resigned as an executive officer and director.
The company said its board has begun a search for a permanent CEO and retained Heidrick & Struggles to run the process.
Azenta also reaffirmed its previously issued fourth quarter fiscal 2026 total revenue guidance, first given on August 4, 2026. On adjusted EBITDA, the company said fourth-quarter fiscal 2026 results will be hit by about $3 million of one-time consulting expense, which will be recorded in the quarter. Excluding that charge, Azenta said it would be reaffirming adjusted EBITDA as well.
The leadership change comes as the company said it has seen “notable progress” in revenue and profitability. The board said Madaus, who joined Azenta in 2024, was chosen because of his experience leading diagnostics and life science tools companies, including roles as chairman, president and CEO of Millipore, chairman and CEO of Ortho-Clinical Diagnostics, and president and CEO of Roche Diagnostics North America.
Madaus is also a senior operating executive at Carlyle Group, where he works at a firm with $485 billion in assets under management. He currently serves as chair of Repligen and as a director of Haemonetics. The market has reacted to these announcements by moving the company's shares -11.15% to a price of $33.23. Check out the company's full 8-K submission here.
