ICON Announces Executive Leadership Transition
Mr. Ciaran Murray to transition to Chairman, effective 1st
Dr. Steve Cutler to be appointed Chief Executive Officer, effective 1st
plc, (NASDAQ: ICLR) a global provider of drug development
solutions and services to the pharmaceutical, biotechnology and medical
device industries, today announced that, as part of its planned
succession of executive leadership, Mr. Ciaran Murray will transition to
the role of Chairman of the Board of Directors and Dr. Steve Cutler will
be appointed as Chief Executive Officer, with both changes effective as
of 1st March 2017.
Dr. Cutler joined ICON in 2011 as President, ICON Clinical Research
Services. He was promoted to ICON plc Chief Operating Officer in January
2014 and was appointed to the Board of Directors in November 2015. "Steve
will bring significant industry experience and proven leadership
capabilities to the role of Chief Executive Officer," said Mr.
Declan McKeon, acting Chairman of the Board. "As Chief Operating
Officer, Steve has strengthened and expanded our global operations and
he is well placed to lead the company to continued growth and success.
The Board is happy to have such a strong internal successor to take
over from Ciaran now that he has decided to transition to the role of
Commenting on his appointment Dr. Cutler added, "I am pleased and
excited to be appointed as ICON's Chief Executive Officer. I look
forward to continuing to work with Ciaran and the rest of the Board
during the transition period and beyond. ICON has a strong
management team and together we will remain focused on enhancing our
position as the CRO partner of choice in drug development. Also,
I would like to personally thank Ciaran for his leadership of ICON over
the last five years."
Prior to joining ICON, Dr. Cutler was Chief Executive Officer of Kendle.
Prior to Kendle, Dr. Cutler held various senior roles in both Quintiles
and Sandoz (now Novartis). Dr. Cutler holds a B.Sc. and a Ph.D from the
University of Sydney and a Masters of Business Administration from the
University of Birmingham (UK).
Mr. McKeon also thanked Mr. Murray for his leadership of the company. "Since
2011, Ciaran has led ICON through a transformative phase of our
development which has seen the company deliver outstanding financial and
operational performance and broaden its strategic capabilities. Ciaran
has also been an excellent partner for the Board and we are delighted
that he has accepted our offer to transition to the role of Chairman of
the Board of Directors."
Mr. Murray commented, "The last five years as ICON's CEO have been
the most exciting and fulfilling of my professional career. Since
I took over as Chief Executive Officer, five years ago the company has
made significant progress. Through our focus on innovation, investment
in talent and by continuing to enhance and broaden our service
capabilities we have driven significant growth and shareholder value.
During this time, we have developed a strong management team and with
ICON well positioned for the future the time is right for me to step
down as Chief Executive Officer and for Steve to take over leadership of
ICON. I look forward to continuing to work with Steve and the
rest of the Board in my new role as Chairman."
About ICON plc
ICON plc is a global provider of drug development solutions and services
to the pharmaceutical, biotechnology and medical device industries. The
company specialises in the strategic development, management and
analysis of programs that support clinical development - from compound
selection to Phase I-IV clinical studies. With headquarters in Dublin,
Ireland, ICON currently, operates from 88 locations in 37 countries and
has approximately 12,600 employees.
Further information is available at www.iconplc.com.
This press release contains forward-looking statements. These
statements are based on management's current expectations and
information currently available, including current economic and industry
conditions. These statements are not guarantees of future performance or
actual results, and actual results, developments and business decisions
may differ from those stated in this press release. The forward-looking
statements are subject to future events, risks, uncertainties and other
factors that could cause actual results to differ materially from those
projected in the statements, including, but not limited to, the ability
to enter into new contracts, maintain client relationships, manage the
opening of new offices and offering of new services, the integration of
new business mergers and acquisitions, as well as economic and global
market conditions and other risks and uncertainties detailed from time
to time in SEC reports filed by ICON, all of which are difficult to
predict and some of which are beyond our control. For these reasons, you
should not place undue reliance on these forward-looking statements when
making investment decisions. The word "expected" and variations of such
words and similar expressions are intended to identify forward-looking
statements. Forward-looking statements are only as of the date they are
made and we do not undertake any obligation to update publicly any
forward-looking statement, either as a result of new information, future
events or otherwise. More information about the risks and uncertainties
relating to these forward-looking statements may be found in SEC reports
filed by ICON, including its Form 20-F, F-1, S-8 and F-3, which are
available on the SEC's website at http://www.sec.gov.
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Investor Relations, 1-888-381-7923
Chief Financial Officer
EVP Investor Relations and Corporate
Source: ICON plc
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