PORT WASHINGTON, N.Y. (AP) — Aceto Corp., which distributes chemicals and generic drugs, said Friday that Albert Eilender will step down as its CEO in January.

Aceto said President and Chief Operating Officer Salvatore Guccione will become its CEO Jan. 2. Eilender will remain chairman of the company.

Eilender became Aceto’s CEO in September 2010. He has been on the board of directors since December 1999 and became nonexecutive chairman in October 2009. Guccione became president and COO on Dec. 1.

Aceto’s stock fell 11 cents to $9.03 by Friday afternoon.