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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