Give Pease a chance: Charles River Laboratories names new CFO

Charles River Laboratories has named former Johnson & Johnson executive Flavia Pease as its new chief financial officer.

Pease, who will officially join CRL next month, worked at the healthcare giant for 20 years. Most recently, she served as vice president and group CFO of the firm’s medical devices business. Prior to assuming this role in 2019, Pease was VP of finance for Janssen North America, J&J’s pharmaceutical business in the U.S. and Canada.

“Charles River presents a compelling opportunity to lead a deep and talented finance team, collaborate with experienced senior leaders, and leverage my experience as a trusted business partner to help the company achieve its goals," Pease said in a statement. 

CRL's goals, which were outlined in its fourth-quarter results presentation in February, include a 13% to 15% increase in revenue—up from the $3.54 billion generated in 2021—and operating margin improvement.

CEO James Foster was similarly enthusiastic about Pease’s appointment, calling her "a highly regarded financial leader."

In addition to her business experience and financial management expertise, in 2019 Pease was named one of the 50 most powerful Latinas by the Association of Latino Professionals for America.

Current CRL CFO David Smith announced his intention to retire from the role in January. He joined CRL in 2014 when the firm acquired Argenta and BioFocus, the drug discovery services business of Belgian pharmaceutical company Galapagos. After Pease takes over, Smith will become senior financial adviser and remain with the company until February 2023.