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Charles River CFO David Smith To Retire In 2022; Issues FY22 Guidance

Charles River Laboratories International, Inc. (CRL) said on Tuesday that its Chief Financial Officer or CFO David Smith will retire from the service, once the company names a successor and the transition period gets completed, which is expected to occur before the end of 2022.

Smith, who joined Charles River in 2014, commented: "Today, I have announced my intention to retire from Charles River prior to the end of 2022, and embark on the next chapter of my life. I firmly believe that I am leaving Charles River at an ideal time, with unprecedented demand, an industry-leading portfolio, a highly experienced leadership team, and low-teens revenue growth expected in 2022…"

In addition, the Massachusetts-headquartered drug maker provided guidance for the fiscal year 2022 with a projection for revenue growth and earnings per share.

For the fiscal year, owing to an expected higher consumer demand, the company expects its revenue growth to be in the range of 12.5 percent - 14.5 percent, and earnings per share to be in the range of $9.20 - $9.45. Charles River also projected its adjusted earnings per share for the year to be in the range of $11.50 - $11.75.

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