Aqua Pharmaceuticals has announced that Craig Ballaron, CEO and founder of Aqua, plans to retire during January 2016.
In a memo to employees, Eduardo Sanchiz, CEO of Almirall, parent company of Aqua, stated, “In the two years since Aqua’s acquisition by Almirall, a global pharmaceutical company, Ballaron has continued the successful path of Aqua and facilitated a balanced integration with Almirall, blending the best of both companies and taking the best interests of the business, customers, and employees into account.”
Sanchiz continued, “We will miss Craig’s strong business acumen and his deep understanding and commitment to the U.S. dermatology market. I have personally enjoyed the relationship we have developed over the past two years, and I would like to express my deepest appreciation to Craig and wish him the best during his retirement.”
Following the retirement of Ballaron, Ted White, Chief Operating Officer of Aqua, will be promoted to the position of President and General Manager of the company effective January 2016. In this role, Ted will report to Alfonso Ugarte, Senior Director, Global Business Units at Almirall.
White joined Aqua as Vice President of Sales in January 2011 and was promoted to Chief Operating Officer in February 2013. During his tenure, White has led a rapid expansion of Aqua, doubling both the company’s sales and employee base.
“We wish Ted continued success in his new position,” said Sanchiz. “As he transitions into his new role, Ted will continue to receive full support from all areas of our company.”