RESEARCH TRIANGLE PARK, N.C. – March 1, 2004 – Quintiles Transnational Corp. today announced members of its new Board of Directors, which was formed following completion of the company's privatization transaction last year. As previously announced, on Sept. 25, 2003, Quintiles shareholders approved the company's acquisition by Pharma Services Holding, Inc., the company created for the acquisition of Quintiles by Dennis Gillings, Ph.D., Chairman, Chief Executive Officer and founder of Quintiles, and One Equity Partners LLC, the private equity arm of Bank One Corporation. Other equity investors in Pharma Services include Temasek Holdings, Texas Pacific Group, Perseus-Soros BioPharmaceutical Fund and Mitsui & Co.
"I believe that our new Board of Directors is extremely strong and well-suited to help guide Quintiles forward as a private company," Gillings said. "Each member has shown extraordinary leadership skills at the highest levels of business and each brings unique and diverse experience to our board. I'm very pleased that we've attracted board members of this caliber."
Members of the Quintiles Transnational Board of Directors are:
Dennis Gillings, Chairman of the Board and CEO, Quintiles Transnational Corp. Gillings founded Quintiles in 1982 after serving as a consultant to pharmaceutical clients during his tenure as a biostatistics professor at The University of North Carolina at Chapel Hill. Under his leadership, Quintiles grew from one office and 10 employees to become the world's leading pharmaceutical services company, with gross revenue of $2.0 billion in 2003, offices in 50 countries and more than 16,000 employees. Gillings earned a degree in mathematical statistics from Cambridge University and bachelor and doctoral degrees in mathematics from the University of Exeter. Gillings serves on several boards and councils, including the UNC School of Public Health Dean's Advisory Council; the Graduate Education Advancement Board of the Graduate School of UNC-Chapel Hill; the North Carolina Institute of Medicine; and the Board of ICAgen, Inc. In 2003 Gillings received the Consul General's Award from the British American Business Council of North Carolina for his contributions to promoting bilateral trade between the U.S. and U.K. Richard M. Cashin, Chairman, One Equity Partners. One Equity manages $3.5 billion of investments and commitments for Bank One. Prior to his appointment as Chairman in 2001, Cashin had been President of Citicorp Venture Capital, which he joined in 1980. He earned a degree in East Asian Studies and a master's degree in business administration from Harvard University. Cashin was a member of the 1976 and 1980 Olympic rowing teams, and was a 1974 World Champion. He serves on the boards of DelcoRemy, Fairchild Semiconductor and Titan Wheel. Clateo Castellini, Director Emeritus, BD (Becton, Dickinson and Company). Castellini's career at BD, a global medical technology company, included serving as Chairman, President and CEO from 1994 to 1999 and as Board Chairman from 1999 to 2003. From 1989 to 1994, Castellini served as BD's Medical Sector President, responsible for worldwide operations of medical supplies and devices. He earned a degree in economics from the Bocconi University and completed an Advanced Management Program at Harvard. Castellini serves on the Health Advisory Board of the Johns Hopkins Bloomberg School of Public Health. Jonathan J. Coslet, Senior Partner, Texas Pacific Group. Responsible for Texas Pacific Group's healthcare investment activities, Coslet also is a member of the firm's Investment and Management committees. Prior to joining Texas Pacific, Coslet was with Donaldson, Lufkin & Jenrette, specializing in leveraged acquisitions and high-yield finance. He received a bachelor's degree in economics from the University of Pennsylvania Wharton School and a master's in business administration from Harvard. Coslet serves on the boards of Magellan Health Services, Oxford Health Plans, Burger King, and J. Crew, among others. Jack M. Greenberg, Chairman and CEO (retired), McDonald's Corporation. Greenberg was a member of McDonald's Board from 1982, when he joined the company as Executive Vice President and Chief Financial Officer, until his retirement in 2002. He was named Vice Chairman in 1992, Chairman of McDonald's USA in 1996 and CEO in 1997. A graduate of DePaul University School of Commerce, he also earned a juris doctor degree from the university's School of Law. He serves on several boards, including Abbott Laboratories, Allstate, Hasbro, The Field Museum and Ronald McDonald House Charities. Robert A. Ingram, Vice Chairman of Pharmaceuticals, GlaxoSmithKline. At GSK, Ingram served in numerous positions, including President, CEO and Chairman, retiring as Chief Operating Officer and President, Pharmaceutical Operations, in 2002. He joined GSK in 1990 after working in sales management and government and public affairs positions with Merrell Dow and Merck. Ingram now represents GSK on the Board of the Pharmaceutical Research and Manufacturers Association. He also serves on the boards of Lowe's, Nortel and Wachovia, and as Chairman, OSI Pharmaceuticals. Ingram graduated from Eastern Illinois University with a degree in Business Administration. S. Iswaran, Managing Director, Temasek Holdings (Private) Limited. Iswaran is responsible for private equity investments (in particular the healthcare, pharmaceutical, biotechnology and technology sectors) for Temasek, an investment holding company of the Singapore government with assets exceeding $70 billion. Prior to his current position, Iswaran held senior positions in the Singapore government, the most recent of these being responsible for multilateral trade negotiations/agreements in the context of the World Trade Organization and Asia-Pacific Economic Cooperation. He serves on the boards of several public companies in Singapore and the region, including SembCorp Industries, Hyflux and Sunningdale Precision Industries. He was elected a Member of Parliament in Singapore in 1997 and re-elected in 2001. Iswaran earned a degree in economics from the University of Adelaide and a master's in public administration from Harvard. Jacques Nasser, Senior Partner, One Equity Partners. Prior to joining One Equity, Nasser had a 35-year career with Ford Motor Co., which culminated in his serving as Ford's president and CEO from 1998 to 2001. A citizen of Australia, Nasser joined Ford there as a financial analyst after graduating with a business degree from the Royal Melbourne Institute of Technology. During his career with Ford he held a variety of senior leadership positions in Europe, Japan, South Africa, Latin America and many other countries and regions. Nasser is Chairman of Polaroid and serves on the board of News Corp.'s British Sky Broadcasting. James S. Rubin, Partner, One Equity Partners. Prior to joining One Equity, Rubin was a Vice President with Allen & Company, a New York investment bank specializing in media and entertainment transactions and advisory work. From 1996 to 1998, he held a number of senior policy positions with the Federal Communication Commission under Chairman Reed Hundt, including the Executive Director of the Education Technology Task Force and General Counsel to the Chief of the Wireless Bureau. Rubin received a bachelor's degree in history from Harvard and his juris doctor degree from Yale Law School. James L. Bierman, Executive Vice President and Chief Financial Officer, Quintiles Transnational Corp. Prior to joining Quintiles in 1998, Bierman spent 22 years with Arthur Andersen. As a partner of this international professional service organization, he worked with numerous companies in solving business problems. His experience ranges from applying knowledge of complex business processes to improve operational efficiency and effectiveness while reducing risk, to researching and developing leading-edge accounting issues. Bierman received a bachelor's degree in economics and history from Dickinson College and a master's degree in business administration from Cornell University's Johnson Graduate School of Management. Bierman has announced his intention to retire from the company later this year and a search is now under way for his replacement.
Quintiles helps improve healthcare worldwide by providing a broad range of professional services, information and partnering solutions to the pharmaceutical, biotechnology and healthcare industries. Headquartered near Research Triangle Park, North Carolina, and with offices in 50 countries, Quintiles is a leading global pharmaceutical services organization and a member of the Fortune 1000. For more information visit the company's Web site at www.quintiles.com.