Catalent names new CFO as contract manufacturer's effort to right its operations continues
Catalent’s cleanup effort now has a new head of finance.
On Tuesday, the contract manufacturer announced that Matti Masanovich has been appointed as CFO, effective July 5. Masanovich previously served as the CFO of Tenneco Automotive, an auto equipment manufacturer, and held the CFO position at Superior Industries International and General Cable Corp.
He replaces former CFO Thomas Castellano, who stepped down in April in the middle of a turbulent period for Catalent, which reported weak financial oversight across some of its operations and overspending across its business, as well as productivity issues at some of its biggest sites. The company also made changes among top executives as it promised to get its business and expenses under control.
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