Aceto CEO to step down next year
Aceto, led by chief executive Albert Eilender, said it will begin making generic versions of antifungal and malaria drugs, through a major subsidiary. (Nov. 21, 2011) Credit: Jessica Rotkiewicz
Aceto Corp., a Port Washington company that supplies pharmaceuticals and chemicals, announced Friday that its current chief executive Albert Eilender will step down from his position next year.
Salvatore Guccione, the current president and chief operating officer of Aceto, will succeed Eilender. Guccione joined the company's board last May and was appointed COO in December. He will hold the title of CEO and President.
Eilender told Newsday he is stepping down to spend more time with his family. His tenure as chief executive will officially end Jan. 2, 2013. Eilender was named the chief executive of Aceto in 2010. Before that, he had been a member of Aceto's board since 2000.
Thursday, Aceto reported that its fiscal fourth quarter's profits grew to $4 million -- a 14 percent increase compared to the same period in 2011. The company's stock is current trading down 2 percent.
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