Covectra Announces Appointment of Gary Miloscia As President and Chief Executive Officer

WESTBOROUGH, Mass., June 14, 2022 /PRNewswire/ -- Covectra, a leader in track and trace solutions, today announced today announced that Gary Miloscia has been named as President and Chief Executive Officer. The Company also announced that Steve Wood, co-founder and Chief Executive Officer since its inception in 2008, will be transitioning to serve on the Board of Directors and as a Senior Advisor to the management team.

"I'd like to thank Steve for his fourteen years of distinguished service co-founding and building Covectra with me," said David Bear, Co-founder and Chairman of the Board. "He has been an integral part of the Company's growth and success. Under his leadership, Covectra pioneered unit dose serialization and developed an impressive array of serialization hardware and software systems used by leading pharmaceutical manufacturers, label converters and other brand owners.  Steve's creativity helped develop a patent in authentication which is the foundation for StellaGuard, our new smart security label. His leadership and dedication have well positioned Covectra to be successful moving forward."

Bear further adds, "The future of Covectra has never been brighter. Gary has proven during his tenure with the company that he is exceptionally well suited to assume the role of CEO. Given his many strengths, we believe Gary is the ideal CEO to lead Covectra into its next chapter of growth and success." 

"As a leading provider of serialization, track & trace, and authentication technologies, Covectra is poised to leverage its technology and strategic position to enhance value for its customers, " said Steve Wood. "I have served over 14 years as CEO and have been proud and fortunate to work with an outstanding and dedicated group of employees. I am deeply grateful for their hard work and commitment and am confident Gary Miloscia will be an excellent leader for Covectra."

Since 2015, Miloscia has served as Covectra's CFO and CMO, responsible for its strategic business, financial planning, marketing, and product development initiatives. Prior to Covectra, Miloscia held senior finance roles at Fidelity Investments, Health Dialog, and American Express. Miloscia received a B.S. Degree in Finance from Rutgers University and an M.B.A. from Indiana University's Kelley School of Business.

"I am very excited for the opportunity to assume my new role at Covectra," said Gary Miloscia. "We have a strong business model and very talented management team that uniquely positions us in providing exceptional serialization and innovative brand protection solutions to our customers.  I look forward to leading the Company through its next chapter as we move forward to fully commercialize our new StellaGuard security label."

Covectra provides complete serialization, track & trace, and authentication technologies to secure, trace and manage products across the entire supply chain, extending to the unit dose level. Transforming supply chains with end unit traceability from the packaging line to the cloud, we enable customers to ensure brand protection, product safety and supply chain integrity in the pharmaceutical, food & beverage, luxury goods, and tobacco industries. With over 3 billion serial numbers issued worldwide, Covectra helps to combat counterfeiting & product diversion and to facilitate product recalls.  To learn more, visit us at www.covectra.com, or follow us on Twitter at @COVECTRA1 and LinkedIn.

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SOURCE Covectra