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- Departure of CEO (new) — CEO Eric Green retiring after successor transition, effective August 31, 2026.
West Pharmaceutical names Michel Lagarde CEO effective August 31, replacing retiring Eric Green
Filed June 1, 2026 · Period ending May 31, 2026 · ~1 min read
Key Changes
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Michel Lagarde, 52, appointed President and CEO effective August 31, 2026, succeeding retiring Eric Green. Lagarde brings pharma services experience from Thermo Fisher (EVP/COO) and Patheon (President/COO).
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR → -
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Lead Independent Director Robert Friel will become Board Chair on August 31, separating CEO and Chair roles—a governance structure often viewed favorably.
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR → -
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Lagarde receives $1.175M base salary, 125% target bonus ($1.469M), and $8.6M in prorated 2026 long-term incentive awards (50% performance shares, 25% RSUs, 25% options).
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR → -
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One-time inducement equity up to $10M includes $6.875M sign-on grant plus matching awards worth up to $3.125M based on personal stock purchases up to $2.5M before start date.
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR → -
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Severance includes 12 months salary for involuntary termination; double-trigger change-in-control provision provides 2x salary plus average bonus, 36 months benefits, and full equity vesting.
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR →
Summary
West Pharmaceutical Services is executing a planned CEO succession. Eric Green, who informed the Board in March 2026 of his intent to retire, will step down August 31 after his successor is in place. Michel Lagarde, currently Executive Vice President and COO at Thermo Fisher Scientific, will take over as President and CEO.
Lagarde's background spans pharmaceutical services leadership at Thermo Fisher and Patheon, private equity healthcare investing at JLL Partners, and finance roles at Philips. He also serves on Vertex Pharmaceuticals' board as Audit and Finance Committee Chair. The transition includes a governance upgrade: Lead Independent Director Robert Friel will become Board Chair, separating the CEO and Chair roles.
Lagarde's compensation package reflects competitive market positioning for a $10+ billion market cap pharma services company, with $1.175M base salary, 125% target bonus, and equity awards totaling approximately $18.6M in year one (prorated 2026 LTI plus inducement grants). The inducement equity includes a matching component tied to Lagarde's personal stock purchases up to $2.5M, aligning his interests with shareholders from day one. Retail investors should monitor the leadership transition's execution and Lagarde's strategic priorities once he assumes the role.
Section-by-Section Diff
Event · Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
On June 1, 2026, the Company announced the appointment of Michel Lagarde as President and Chief Executive Officer of the Company, effective August 31, 2026 (the “Start Date”), to replace Mr. Green in those roles. As of the Start Date, Mr. Green will resign as a member of the Board and Mr. Lagarde will be appointed as a member of the Board to fill that vacancy.
Michel Lagarde, 52, currently Executive Vice President and Chief Operating Officer at Thermo Fisher Scientific, will become President and CEO effective August 31, 2026. He brings extensive pharma services experience from Thermo Fisher, Patheon, and JLL Partners, plus 12 years at Philips in finance roles. Lead Independent Director Robert Friel will become Board Chair upon Green's departure.
Added in current filing · verify on EDGAR →
Mr. Lagarde will be granted 2026 LTI awards in this mix on the first business day of the first week following the Start Date with a total grant value of $8,611,111 (which represents a $10,000,000 target total grant value prorated for 2026) and with vesting terms (including treatment upon termination of employment and change in control) consistent with the standard forms of award agreements used for executive officers for 2026 LTI awards.
Lagarde will receive 2026 long-term incentive awards valued at $8,611,111 (prorated from $10 million target), granted 50% as performance share units, 25% as restricted stock units, and 25% as stock options, with standard executive officer vesting terms.
Added in current filing · verify on EDGAR →
12 months of salary continuation and COBRA benefits for an involuntary termination by the Company without Cause or by Mr. Lagarde for Good Reason (not during the period within two years after a change in control). ... For a termination by the Company without Cause or termination by Mr. Lagarde for Good Reason within two years after a change in control, (i) a lump sum payment equal to two times the sum of salary plus prior three-year average bonus, (ii) 36 months of certain benefits, and (iii) full vesting of any outstanding LTI awards, including the inducement equity awards.
Lagarde's severance includes 12 months salary and COBRA for involuntary termination without cause or for good reason. If such termination occurs within two years after a change in control, he receives two times salary plus three-year average bonus, 36 months benefits, and full vesting of all equity awards including inducement grants.
Event · Item 7.01 — Regulation FD Disclosure
West Pharmaceutical announces appointment of Mr. Lagarde as President and CEO, effective on a specified start date.
Added in current filing · verify on EDGAR →
Mr. Lagarde’s appointment as the Company’s President and Chief Executive Officer, and appointment to the Board, effective as of the Start Date
West Pharmaceutical Services has appointed Mr. Lagarde as President and Chief Executive Officer, with simultaneous appointment to the Board of Directors. The appointment takes effect on a specified start date. This represents a leadership transition at the highest executive level of the company.
Event · Exhibit 99.1
Added in current filing · verify on EDGAR →
West Pharmaceutical Services, Inc. (NYSE: WST), a global leader in innovative solutions for injectable drug administration, today announced that its Board of Directors has appointed Michel Lagarde to be President and Chief Executive Officer (CEO) and a member of the Company’s Board of Directors starting August 31, 2026. He succeeds Eric M. Green, who will retire from his roles as President, CEO and Board Chair on that date.
Michel Lagarde will become President and CEO on August 31, 2026, replacing Eric M. Green who is retiring from all his roles. Lagarde brings extensive pharmaceutical and life sciences experience, most recently serving as Executive Vice President and Chief Operating Officer at Thermo Fisher Scientific. He will also join the Board of Directors.
Added in current filing · view on EDGAR →
Most recently, he served as Execu ve Vice President and Chief Opera ng Officer at Thermo Fisher Scien fic, Inc., with responsibility for the majority of the company's businesses. He joined Thermo Fisher in 2017 as Senior Vice President and President, Pharma Services, through its acquisi on of Patheon N.V.
Before Thermo Fisher, Mr. Lagarde was President and Chief Operating Officer at Patheon N.V., a pharma services company, from 2016 to 2017, and Managing Director at JLL Partners, a private equity firm focused on health care services, from 2008 to 2016.
Lagarde's experience includes senior operating roles at Thermo Fisher Scientific and Patheon N.V., both pharmaceutical services companies, plus private equity experience at JLL Partners focused on healthcare services. He currently serves on Vertex Pharmaceuticals' Board as Chair of the Audit and Finance Committee, demonstrating relevant industry expertise and governance experience.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 4, 2026 · How we verify