Sotera Health CEO Departs Effective June 1

Sotera Health Co, a provider of sterilization and lab testing services for medical devices, announced on May 5, 2026, that Chief Executive Officer Michael B. Petras, Jr., will depart from his role effective June 1, 2026, per the company's Form 8-K filing with the Securities and Exchange Commission.

The filing details financial results for the first quarter ended March 31, 2026, showing net revenues of $248 million, a 5% increase from $236 million in the prior-year period, according to Item 2.02. Adjusted EBITDA reached $128 million, up from $121 million, with the company attributing growth to higher volumes in its Sterigenics and Nordion segments.

The filing includes exhibits under Item 9.01, such as a press release with full financial statements.

Sotera Health operates in more than 50 facilities across 13 countries, serving over 3,000 customers in the healthcare sector, including major medical device manufacturers. Its services sterilize approximately 40 million cubic feet of products annually, impacting devices used in hospitals and clinics worldwide.

The financial results reflect operations affecting these customers, with revenue breakdowns showing Sterigenics contributing $158 million, Nordion $52 million, and Nelson Labs $38 million.

Prior to the announcement, Petras served as CEO since 2016, overseeing the company's initial public offering in 2020 and its expansion into new markets. The new state removes him from the position on June 1, 2026, with no cited cause in the filing's Item 5.02.

The company stated it has engaged a search firm to identify a successor, and the board will appoint an interim CEO if needed by the effective date.

The departure activates SEC requirements for a Form 8-K amendment if a successor is named within four business days, per federal securities regulations. It also triggers potential updates to the company's proxy statement for the next annual meeting, disclosing any severance agreements or compensation changes tied to the exit.

Operationally, the board must ensure continuity in strategic initiatives, such as ongoing investments in gamma sterilization capacity, which the filing notes increased by 10% year-over-year. Shareholders may see related disclosures in the upcoming quarterly report on Form 10-Q, due by mid-August 2026.

Sotera Health went public in November 2020, raising $1.2 billion in its IPO. The company has filed six Form 8-Ks in the past year, including two related to financial results and one for a debt refinancing in February 2026.