Quintiles Continues Governance Transition Plan
06 Février 2015 - 2:00PM
Business Wire
Quintiles Transnational Holdings Inc. (“Quintiles” or the
“Company”) (NYSE: Q) announced today that its Board and principal
shareholders have reached agreement on a governance plan to
transition the Company’s Board of Directors and its committees to
comply with NYSE criteria as a non-controlled company.
Quintiles’ Stockholders Agreement has been amended, calling for
the Quintiles Board to be set at nine members, comprised of a
majority of independent directors by November 2015. In the interim,
the Board size will be increased to 13 to make room for two
additional independent directors, the first of whom is Dr. John
Leonard, an experienced pharmaceutical development executive, who
was appointed to the Board on February 5, 2015. Commencing in
November, the Board’s nine members will include the chief executive
officer, Dr. Dennis Gillings, CBE, one representative each from
Bain Capital and TPG and five additional independent directors.
Gillings to Switch Roles, From Executive Chairman to
Director
Dr. Gillings has indicated his desire to transition from his
role as Executive Chairman and Chairman of the Quintiles Board at
the end of 2015. He will remain on the Board as a director and
continue his close association with Quintiles. The Board will go
through an appropriate governance process to select a new Chairman
during the year, to be in place by January 2016.
“We began our transition in April of 2012 with the hiring of Tom
Pike who has provided outstanding leadership as CEO,” said Dr.
Gillings. “He extended that leadership with our successful IPO in
May 2013. The company is ready on every level, with strong
management, a robust growth strategy and effective governance,
reflected in this thoughtful Board transition. I look forward to my
continuing Quintiles Board duties and partnership with Tom.”
“Quintiles will continue to benefit from the vision and
leadership of Dennis Gillings,” said Quintiles Chief Executive
Officer Tom Pike. “He is recognized around the world as a pioneer
in our industry, and his contributions have only increased over
time.”
“It is a sincere privilege to work with Dennis,” Pike continued.
“He is a tremendous partner and provides invaluable support and
insight as a Board member and shareholder.”
About Quintiles
Quintiles (NYSE: Q), a Fortune 500 company, is the world’s
largest provider of biopharmaceutical development and commercial
outsourcing services. With a network of more than 32,000 employees
conducting business in approximately 100 countries, we helped
develop or commercialize all of 2013’s top-100 best-selling drugs
on the market. Quintiles applies the breadth and depth of our
service offerings along with extensive therapeutic, scientific and
analytics expertise to help our customers navigate an increasingly
complex healthcare environment as they seek to improve efficiency
and effectiveness in the delivery of better healthcare outcomes. To
learn more about Quintiles, please visit www.quintiles.com.
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QuintilesMedia Relations:Phil Bridges,
919-998-1653Mobile: 919-457-6347phil.bridges@quintiles.comorInvestor
Relations:Karl Deonanan,
919-998-2789InvestorRelations@quintiles.com
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