Avantor Stock Plummets as Firm's CEO Set to Leave Amid Sales Slump, Outlook Cut
1. Avantor's CEO resigns after 11 years, initiating leadership transition. 2. First-quarter net sales fell 6% to $1.58 billion, missing targets. 3. Lab Solutions sales slumped 8%, affected by reduced government demand. 4. Company reduces full-year outlook and digital transformation strategy. 5. Shares dropped 16%, reaching a five-year low.