ALD announced that at the meeting of the Board of Directors held on 5 February 2020, the President, Philippe Heim, informed the Board of Mike Masterson's decision to resign from his position as Chief Executive Officer of ALD for health reasons, effective 27 March 2020. The Board has accepted Mike Masterson's decision. The Board has indicated it intends to appoint Tim Albertsen, currently Deputy Chief Executive Officer of ALD, to succeed Mike Masterson as Chief Executive Officer, effective on 27 March 2020. Tim Albertsen has been serving as Deputy CEO of ALD since 2011.