Angus Russell to Retire in 2013: Dr Flemming Ornskov to Succeed as Chief
DUBLIN, October 25, 2012
DUBLIN, October 25, 2012 /PRNewswire/ --
The Board of Directors of Shire (LSE: SHP, NASDAQ: SHPG), announces the
retirement in 2013 of Chief Executive Angus Russell after 13 years with the
Company and 32 years in the pharmaceutical industry.
Flemming Ornskov MD, MBA, MPH will join the Shire Board as Chief Executive
Designate on January 2, 2013 following completion of his notice period with
his current employer.
There will then be a handover period of several months to ensure a smooth
transition before Flemming becomes CEO on April 30, 2013; the date of the
Shire Annual General Meeting. As Chief Executive Designate, Flemming will
spend time with all three Shire businesses and will have a special focus
initially on the Specialty Pharmaceuticals business. He will be based at
Shire's offices outside Philadelphia, USA, during this period.
Flemming joins from Bayer where, as Chief Marketing Officer and Global Head,
Strategic Marketing for General and Specialty Medicine he oversees the full
pharmaceutical product portfolio, with sales in excess of 10 billion Euros
from global marketing units in Europe, China and the US.
Flemming Ornskov said:
"Shire stands out in the industry. I'm motivated and inspired by the Company's
vision and excited to bring the combination of my medical, multi-national and
entrepreneurial business background to lead Shire to the next phase of its
Shire Chairman Matthew Emmens said:
"Flemming is highly qualified for this role and brings diverse and deep
expertise to Shire. His pharmaceutical experience spans start-ups, equity and
venture capital as well as mature global multi-nationals, in marketing roles
and increasingly senior leadership positions. He's lived and worked in both
Europe and the United States and had responsibility for businesses across
Asia. As an MD with most of his training in pediatrics, he brings important
insight and understanding of patients needs. This unique combination of
skills and experience will bring an innovative outlook to Shire and help steer
the Company toward continued growth."
"The Board would like to thank Angus for his excellent leadership and
impressive contributions over many years during which time Shire has grown to
become an industry leading global company. Shire has a distinctive business
model and is financially strong and has consistently executed on its growth
strategy. Angus led the Company through a period of extraordinary growth and
was instrumental in establishing a winning strategy and a powerful and
compelling culture. We wish him and his family well in his retirement"
Angus Russell said:
"I've enjoyed every day of my time at Shire. I'm very pleased to have been a
part of the growth story of this excellent company and to be leaving it in
such great shape for further success. I'm delighted to hand the leadership
over to such a talented and visionary individual. I'll continue to watch the
progress of this outstanding organisation in the years ahead."
Further background on Flemming Ornskov
2010- present: Bayer Chief Marketing Officer and Global Head, Strategic
Marketing for General & Specialty Medicine (Berlin, Germany).
2008-10: Global President, Pharmaceuticals and OTC Bausch & Lomb Inc
2006-8: Lifecycle Pharma A/S (Denmark) Chairman of the Board of Directors and
stepped in as CEO to take the company through an IPO.
2005-6: President and CEO of Ikaria Inc a privately owned biotech company in
Seattle, USA, a majority stake of which was sold to a private equity firm. The
company was then merged with Ino Therapeutics Inc.
Earlier in his pharmaceutical career he had roles of increasing responsibility
at Merck & Co Inc and Novartis (where he first headed the US Cardiovascular
and later the Global Ophthalmic Franchises and was a member of the
Pharmaceutical Executive Committee), following a distinguished period in
hospital and academic medicine.
Flemming qualified as a Doctor of Medicine at the University of Copenhagen
Medical School and gained an MPH at Harvard University School of Public
Health, Boston. His early medical and academic career included roles in
internal medicine, emergency medicine and pediatrics, as well as clinical
decision sciences at medical schools and hospitals in Denmark and France.
He gained an MBA from the INSEAD business school in Fontainebleau, France.
He currently serves as non executive Chairman of the Board of Directors for
biotechnology companies Santaris Pharma A/S and Evotec AG and is on the Board
of Directors for PCI Biotech Holding ASA.
Fluent in four languages (Danish, English, French and German), Flemming is
married with four children.
The search process
Shire began its search for a new President for its Specialty Pharmaceuticals
business in April and in conducting this, sought a candidate who would, in due
course, be a potential successor for the CEO. A thorough process was led by
Chairman Matthew Emmens and the Shire Nomination Committee. Support was
provided by an external search firm.
There is no further information that is required to be disclosed under 9.6.13R
of the UK Listing Rules.
Notes to editors
Shire enables people with life-altering conditions to lead better lives.
Through our deep understanding of patients' needs, we develop and provide
healthcare in the areas of:
*Behavioral Health and Gastro Intestinal conditions
as well as other symptomatic conditions treated by specialist physicians.
We aspire to imagine and lead the future of healthcare, creating value for
patients, physicians, policymakers, payors and our shareholders.
"SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF
Statements included herein that are not historical facts are forward-looking
statements. Such forward-looking statements involve a number of risks and
uncertainties and are subject to change at any time. In the event such risks
or uncertainties materialize, the Company's results could be materially
adversely affected. The risks and uncertainties include, but are not limited
to, risks associated with: the inherent uncertainty of research, development,
approval, reimbursement, manufacturing and commercialization of the Company's
Specialty Pharmaceuticals, Human Genetic Therapies and Regenerative Medicine
products, as well as the ability to secure new products for commercialization
and/or development; government regulation of the Company's products; the
Company's ability to manufacture its products in sufficient quantities to meet
demand; the impact of competitive therapies on the Company's products; the
Company's ability to register, maintain and enforce patents and other
intellectual property rights relating to its products; the Company's ability
to obtain and maintain government and other third-party reimbursement for its
products; and other risks and uncertainties detailed from time to time in the
Company's filings with the Securities and Exchange Commission.
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