Thomas F. Ackerman, Corporate Executive Vice President & Chief
Financial Officer, Announces Planned Retirement in 2016
David R. Smith Will Transition to Chief Financial Officer Role
Dr. Emily Hickey and Dr. Katherine Hilyard Promoted to New
Leadership Positions in Discovery Services
WILMINGTON, Mass.--(BUSINESS WIRE)--Feb. 24, 2015--
Charles River Laboratories International, Inc. (NYSE: CRL) today
announced planned management changes which will be implemented over the
course of 2015.
Chief Financial Officer Transition Plan
Thomas F. Ackerman, Corporate Executive Vice President and Chief
Financial Officer, has announced that following a transition period, he
will retire from Charles River Laboratories in February 2016. Mr.
Ackerman joined Charles River in 1988, with over a decade of combined
public accounting and international finance experience. He became Vice
President and Chief Financial Officer in 1996 and was elevated to his
current position in 2005. Mr. Ackerman’s planned departure from the
company will allow sufficient time for a seamless transition of his
global responsibilities to a highly qualified successor who has already
been identified. Mr. Ackerman has also agreed to provide periodic
consulting services during the one-year period following his retirement,
allowing us to draw on his knowledge and experience.
James C. Foster, Chairman, President and Chief Executive Officer,
commented, “Under Tom’s leadership, we have built a strong and deep
finance team which has been instrumental in enabling us to facilitate
the Company’s growth. We are grateful that Tom has provided us with the
time required to plan for a seamless transition of his responsibilities
and the ability to access his extensive knowledge after he retires. We
thank Tom for his many years of dedicated service to Charles River.”
David R. Smith, Corporate Senior Vice President, Global Discovery
Services, has been named as Mr. Ackerman’s successor. Mr. Smith joined
Charles River through our acquisition of Argenta and BioFocus from
Galapagos NV, where he was serving as Chief Executive Officer of its
Galapagos Services division. Mr. Smith spent eight years at
PricewaterhouseCoopers prior to joining AstraZeneca in 1997, where he
spent the next nine years in various finance and business roles of
increasingly greater responsibility. After leaving AstraZeneca, Mr.
Smith served as the Chief Financial Officer of Galapagos NV before
becoming Chief Financial Officer for Cambridge University Hospitals,
where he served in that capacity for six years, from 2007 to 2013. Mr.
Smith’s proven business, finance, and leadership experience make him an
ideal choice to assume Mr. Ackerman’s responsibilities over the course
Global Discovery Services Transition Plan
Once Mr. Smith assumes the Corporate Executive Vice President and Chief
Financial Officer role, Dr. Emily Hickey will be promoted to the
position of Corporate Senior Vice President, Global Discovery Services.
Dr. Hickey is an experienced drug discovery executive with a proven
track record for establishing and leading successful global discovery
businesses. Before joining Charles River, Dr. Hickey was the Executive
Director of In Vivo Pharmacology at Merck Research Labs, leading
the development and implementation of the externalization strategy for in
vivo studies. Most recently, Dr. Hickey has served as Corporate Vice
President, In Vivo Discovery, overseeing our in vivo
discovery businesses in the United States and Europe. Dr. Katherine
Hilyard, Managing Director, BioFocus DPI Ltd., will be promoted to the
position of Corporate Vice President, Early Discovery, and will assume
responsibility for the Argenta, BioFocus, and ChanTest businesses, which
comprise our Early Discovery business.
“These executive appointments highlight the strength of our management
bench. David, Emily, and Kate are proven executives who have
demonstrated outstanding leadership, with the vision to drive the
Company's growth. I look forward to working collaboratively with these
senior leaders as we expand our portfolio and enhance our position as
the strategic partner of choice for early-stage drug research,” Mr.
Caution Concerning Forward-Looking Statements
This press release includes forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements may be identified by the use of words such as
"anticipate," "believe," "expect," "will," "may," "estimate," "plan,"
"outlook," and "project" and other similar expressions that predict or
indicate future events or trends or that are not statements of
historical matters. These statements also include statements regarding
our future management structure. Forward-looking statements are based on
Charles River's current expectations and beliefs, and involve a number
of risks and uncertainties that are difficult to predict and that could
cause actual results to differ materially from those stated or implied
by the forward-looking statements. A description of these risks,
uncertainties, and other matters can be found in the Risk Factors
detailed in Charles River's Annual Report on Form 10-K as filed on
February 17, 2015, as well as other filings we make with the Securities
and Exchange Commission. Because forward-looking statements involve
risks and uncertainties, actual results and events may differ materially
from results and events currently expected by Charles River, and Charles
River assumes no obligation and expressly disclaims any duty to update
information contained in this news release except as required by law.
About Charles River
Charles River provides essential products and services to help
pharmaceutical and biotechnology companies, government agencies and
leading academic institutions around the globe accelerate their research
and drug development efforts. Our dedicated employees are focused on
providing clients with exactly what they need to improve and expedite
the discovery, early-stage development and safe manufacture of new
therapies for the patients who need them. To learn more about our unique
portfolio and breadth of services, visit www.criver.com.
Source: Charles River Laboratories International, Inc.
Charles River Laboratories International, Inc.
E. Hardy, 781-222-6190
Corporate Vice President, Investor Relations
Amy Cianciaruso, 781-222-6168