Grifols Taps Bank of America Executive as CFO to Calm Investors

Grifols SA has named a Bank of America executive to be its new chief financial officer, as the Spanish pharmaceutical company works to reassure investors.

Rahul Srinivasan will take over as CFO on Sept. 16, replacing Arturo Arroyo, who’s set to retire after 17 years in the role. Srinivasan previously served as Bank of America’s EMEA head of leveraged finance and capital markets.

The appointment announced Thursday marks the latest management change at the embattled company, which has shed billions of euros in market value since it became the target of a short-seller attack earlier this year.

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