Ciaran Murray named as his successor and appointed to Board
ICON plc (NASDAQ:ICLR) (ISIN:IE0005711209), a global
provider of outsourced development services to the pharmaceutical,
biotechnology and medical device industries, today announced that Mr.
Peter Gray has informed the Board of his decision to retire as CEO,
after 14 years with the Company, the last 9 of which were as CEO. The
Board has appointed Mr. Ciaran Murray, who has held the position of CFO
for the last 6 years, to succeed Mr. Gray effective October 1, 2011. Mr.
Murray has also been appointed as a member of the Board. Mr. Gray has
agreed to take on the role of Vice Chairman to facilitate a smooth
transition and to assist the Board in continuing strategic development.
Dr. Bruce Given, Chairman of ICON, commented "Peter's leadership has
been fundamental in establishing ICON as an industry leading Company and
creating a world class management team. His contribution to ICON's
growth over the last number of years and to its success cannot be
overstated. Peter has worked closely with the Board for several years in
its development of a robust succession plan. We are therefore delighted
that Peter will remain as Vice Chairman and that Ciaran will take on the
role of CEO. Ciaran brings a deep knowledge of the industry together
with extensive operational and global experience. He has a proven track
record and has been a key member of the management team through ICON's
transformation to a global leader".
"It has been a great honour to lead ICON through an extremely exciting
phase of its development" said Peter Gray. "At a time of unprecedented
change in the industry ICON is well positioned to capitalise on the
investments we have been making in recent years and I believe that
Ciaran is the right person to lead the organisation and its outstanding
people through this next phase of growth."
Ciaran Murray commented "I am delighted to be taking on the role of CEO
for ICON at this exciting time in our development with the business
poised for a return to growth. I look forward to continuing to build on
the achievements of Peter and the team to ensure that ICON continues to
grow and enhance its position as a leading global CRO".
Following Mr. Murray's appointment Mr. Brendan Brennan, currently Senior
Vice President of Corporate Finance will be appointed acting CFO, and
Mr. Diarmaid Cunningham, General Counsel, will take on the additional
role of Company Secretary.
Mr. Ciaran Murray: Biography
Mr Murray graduated with a Bachelor of Commerce degree from the
University College Dublin and qualified as a Chartered Accountant with
PwC in 1988. Subsequently he held a number of senior financial positions
in global organisations including Kraft Foods, Novell Inc., Northern
Foods and Codec Systems.
Mr. Murray joined ICON in 2005 as Chief Financial Officer and has been a
key member of the Executive Management team during a period of
exceptional growth when the company grew from $326m in revenue and 2,700
employees to its 2010 revenues of $900m and over 8,000 employees.
In addition to his financial role, Mr Murray has been responsible for
ICON's Medical Imaging division and has played a central role in the
development of the ICON strategic plan.
The statements made in this Press Release may contain forward-looking
statements that involve a number of risks and uncertainties. In addition
to the matters described in this Press Release, the ability to maintain
large client contracts or enter into new contracts, maintain client
relationships and the ability to manage the opening of new offices, the
integration of new business mergers and acquisitions, as well as other
risks and uncertainties detailed from time to time in SEC reports filed
by ICON, including its Form 20-F, F-1, S-8 and F-3, may affect the
actual results achieved by ICON. ICON disclaims any intent or obligation
to update these forward-looking statements.
About ICON plc
ICON plc is a global provider of outsourced
development 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. ICON currently
has approximately 8100 employees, operating from 78 locations in 39
The Company will hold a conference call today, September 7th,
2011 at 8:00 EST (13:00 Ireland & UK). This call can be accessed via
webcast live from our website at http://www.iconplc.com.
A recording will also be available on the website for 90 days following
Investor Relations: 1-888-381-7923
Chief Financial Officer
+ 353 —1-291-2000
Brennan, Snr VP Corp Fin
+ 353 —1-291-2000
Farthing, VP Investor Relations
+ 353 —1-291-2251
Holmes, VP Corporate Development
+ 353 —1-291-2016
Source: ICON plc
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