RESEARCH TRIANGLE PARK, N.C. - March 13, 2001 - Quintiles Transnational Corp. (Nasdaq: QTRN) today announced a key component of its long term succession plan, further deepening its management team by naming Pamela J. Kirby, Ph.D., as its new chief executive officer. Dennis Gillings, Ph.D., who founded the company in 1982, will continue as chairman. Kirby will assume her new post April 2 and report to Gillings.
Kirby will be responsible for directing Quintiles' daily global operations with a focus on service delivery and interacting with customers, investors and employees. All the executives currently reporting to Gillings will report to Kirby. Gillings will retain the position of chairman, and will continue to chair Quintiles' Corporate Management Committee and direct the company's technology and growth strategies. He also will remain chairman of the Board of Directors.
Kirby, 47, most recently headed the Global Strategic Marketing and Business Development department of the pharmaceutical division of F. Hoffmann-La Roche Ltd. in Basel, Switzerland, where she reported to the company's chief executive officer. In this role, Kirby had responsibility for the global marketing of all the company's prescription pharmaceuticals. In addition, she introduced and managed the Life Cycle Organization, a cross-functional team that brought key products from entry into development through registration, launch, patent expiry and beyond.
Previously, Kirby served for 17 years with Astra AB and then as global commercial director with British Biotech plc. While at Astra, she held numerous positions, lastly as corporate vice president for Strategy, Marketing and Business Development, including licensing. Kirby also served as managing director of the company's subsidiaries in the United Kingdom and Ireland. She has held several board positions in the pharmaceutical industry. Kirby holds a doctoral degree in clinical pharmacology and an undergraduate degree in pharmacology from the University of London.
"We're very pleased to bring in Pam at a time when we've implemented many operational improvements from which we expect to realize results this year," Gillings said. "Her leadership and multinational experience in R&D and commercialization will take the Quintiles business into the next generation of our evolution as a partner to the pharmaceutical and biotechnology industries. On a personal level, our working relationship is excellent. We have established the right chemistry for decision making. Pam's ability to read people, combined with her 'cut to the chase' approach, has contributed to her impressive track record.
"She has been successful in the changing pharmaceutical business environment, driving revenue and profitability growth with investor accountability at multi-billion dollar companies. With Pam's breadth of marketing experience, she will lead our strong management team in delivering innovative customer solutions and market performance."
Quintiles Transnational Board member Virginia Weldon, M.D., said: "Quintiles is most fortunate to have persuaded Pam Kirby to join the organization as CEO. She is outstanding in every way and brings precisely the kind of background that will enable Quintiles to continue to grow and reach its financial targets."
Kirby said: "Quintiles has a well developed, compelling strategy, and with my pharmaceutical background and experience as a Quintiles customer, I understand what the industry wants. I look forward to further building the Quintiles business model in the dynamic market we serve."
Quintiles Transnational will hold a conference call and live Webcast to introduce Kirby at 10 a.m. EST, Wednesday, March 14. Interested parties can access the Webcast at http://www.quintiles.com/investors/broadcast_center (Access expired). (Additionally, a replay of the Webcast will be available via the same link about two hours after completion of the call. The replay will be available through Friday, March 23.)
Quintiles Transnational Corp. is the world's leading provider of information, technology and services to bring new medicines to patients faster and improve health care. Headquartered near Research Triangle Park, North Carolina, Quintiles employs a global workforce of 18,000 in 39 countries. Quintiles Transnational is a member of the S&P 500 and Fortune 1000. For more information, visit the company's Web site at www.quintiles.com.
Information in the press release contains "forward-looking statements" about Quintiles. These statements involve risks and uncertainties that could cause actual results to differ materially, including without limitation, our ability to complete development and commercialization of new products, the cost and timing of bringing new products to market compared with revenues which may be generated by them and market acceptance. Additional factors that could cause actual results to differ materially are discussed in the company's recent filings with the Securities and Exchange Commission, including but not limited to its S-3 and S-4 Registration Statements, its Annual Report on Form 10-K, its Form 8-Ks, and its other periodic reports, including Form 10-Qs.