Azenta shares fell after the company said it expected to record a $3 million expense and its chief executive departed.

The stock slid 9% to $34 on Monday. Shares are still up 2% this year.

The life sciences company said it expects to record a $3 million expense related to consulting costs, which will ding its adjusted earnings before interest, taxes, depreciation and amortization in the fourth quarter.

Azenta also reaffirmed its fourth-quarter sales guidance.

The expected charge came as the board has retained an executive search firm, Heidrick & Struggles, to help find a new chief executive.

John Marotta has resigned from his role as CEO and Martin Madaus is serving in the interim.

"The board regularly analyzes the performance of our core business units and will continue to evaluate which areas merit targeted reinvestments," said board chair Frank Casal.