Biopharma Firm Catalent Moves Legal Chief to New Role Amid Reshuffle
Steven Fasman, the top lawyer for global biopharma company Catalent, which has produced more than a billion COVID-19 vaccines and treatments, is shifting to a newly created administrative role as part of an organizational restructuring following the appointment of a new CEO.
Fasman is shedding the general counsel and senior VP titles he’s held since 2014, and taking over as executive VP and chief administrative officer. He will now oversee certain administrative functions of the company, including legal and compliance, information technology, engineering, procurement, governmental affairs and various ESG-related departments.
The Somerset, New Jersey-based company changed Fasman’s role as it moves forward with various leadership changes and a new organizational structure that consolidates Catalent’s four business divisions into two branches—a pharma and consumer health segment and biologics group—that each represent about half of the company’s total revenue.
Catalent’s new president and CEO Alessandro Maselli, who took up the company’s reins on July 1, stated that the organizational changes will allow the company to “be more agile in meeting and anticipating customer needs and expectations.”
Before Fasman joined Calatent as legal chief, he served as executive VP-law for billionaire investor Ronald Perelman’s diversified holding company, MacAndrews & Forbes Holdings, and as GC and chief compliance officer for subsidiary M&F Worldwide Corp.
Earlier in his career, Fasman practiced at Paul, Weiss, Rifkind, Wharton & Garrison, where he focused on domestic and international litigation and regulatory proceedings.