The 12-year chief executive and more than 20-year veteran of Exton pharmaceutical packaging and delivery firm West Pharmaceutical Services Inc. announced this week that his leadership is expected to come to an end next May.

“During his leadership, revenues more than tripled with the launch of many innovative products, and the stock price increased more than sixfold,” Chairman Patrick J. Zenner said of CEO Donald Morel in a press release.

Last year West achieved $1.4 billion in sales.

“My time at West has been extremely rewarding on both a personal and professional level,” Morel added. “When I step down next May, I will sincerely miss my West colleagues around the world that have worked so diligently to contribute to our company’s success. With our company in a very strong financial position and poised for a bright future, the time is right for me to step back, focus on my family and pursue my philanthropic goals.”

Read more about the announcement and the company’s third quarter earnings expectations on its website here.

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Top Photo Credit: West Pharma Blog