Fortrea Announces New CEO, Anshul Thakral, Shares Rise 5%

Fortrea's stock price rose 5% after-hours on Wednesday after the company named Anshul Thakral as its new CEO, effective August 4, 2025. Thakral has over 20 years of experience in the life sciences sector and co-founded a biotech company. His appointment is seen as a positive step for the company, boosting investor confidence.

Fortrea's stock price rose by 5% after-hours on Wednesday, following the company's announcement of Anshul Thakral as its new CEO, effective August 4, 2025. The appointment of Thakral, who brings over 20 years of experience in the life sciences sector, is seen as a positive step for the company, boosting investor confidence.

Thakral, who will also join the company’s board of directors, succeeds Interim CEO Peter M. Neupert, who will continue as chairman of the board. Thakral's extensive background includes executive roles at PPD and Launch Therapeutics, where he served as CEO. His appointment comes as Fortrea focuses on executing its transformation plan and driving profitable growth.

"Anshul is an exceptional leader with extensive life sciences experience, deep familiarity with the CRO industry, a commitment to innovation and a proven record of building companies and growing revenue," said Neupert in a statement. Thakral’s appointment is expected to bring a renewed focus on customer engagement and innovation, aligning with Fortrea’s mission to modernize the clinical trials process.

Prior to his role at Launch Therapeutics, Thakral led PPD Biotech and held positions at Gerson Lehrman Group and McKinsey & Company. He currently serves on the boards of TriNetX, Saama Technologies, and Orsini Specialty Pharmacy. Fortrea provides clinical trial management and consulting services across approximately 100 countries, supporting biopharmaceutical, biotechnology, medical device, and diagnostic companies.

The stock price increase reflects investor optimism about Thakral's leadership and his potential to drive growth and profitability for Fortrea. Despite recent challenges, including a first-quarter earnings report that fell short of analysts' expectations, Fortrea reaffirmed its 2025 revenue guidance of $2.45 to $2.55 billion and adjusted EBITDA guidance of $170 to $200 million. The appointment of Thakral is viewed as a strategic move to capitalize on the significant growth opportunities Fortrea sees ahead.

References:
[1] https://ir.fortrea.com/news-releases/news-release-details/fortrea-names-anshul-thakral-chief-executive-officer
[2] https://ca.investing.com/news/company-news/fortrea-appoints-anshul-thakral-as-new-ceo-effective-august-4-93CH-4060966