Charles River Laboratories International, Inc. (NYSE: CRL) today
announced organizational changes which are designed to continue to
improve the Company’s operating efficiency across its global portfolio
and enhance its ability to meet the needs of its clients. These changes
represent the next step in Charles River’s continuing effort to position
the Company as the partner of choice for early-stage drug development
and to drive future growth.
James C. Foster, Chairman, President and Chief Executive Officer, said,
“In a market environment which is rapidly changing, we have continued to
refine and enhance our competitive position through a combination of
portfolio expansion, organizational changes, efficiency initiatives,
improved data infrastructure and increasing scientific expertise. The
changes we are announcing today are the logical evolution of these
ongoing efforts, which we believe will ensure our clients a consistent
and superior experience across our global organization. Furthermore, our
intensified emphasis on efficiency will enable us to meet our clients’
expectations while maintaining and enhancing our reputation for service,
responsiveness and scientific excellence.”
Enhanced Efficiency Initiatives
The organizational changes are designed to further enhance the Company’s
worldwide productivity initiatives and promote the global management of
its Research Models and Services (RMS) and Preclinical Services (PCS)
businesses. The respective organizational changes are as follows:
Jörg Geller, D.V.M., Ph.D., previously Corporate Executive Vice
President and President, European & Asian Operations, will now directly
oversee a global initiative to enhance efficiency and drive increased
productivity across all of Charles River’s businesses worldwide. In his
new role, Dr. Geller will assume the title of Corporate Executive Vice
President, Global Productivity and Efficiency. Dr. Geller will be
responsible for intensifying the Company’s focus on driving
productivity, while retaining its reputation for service, responsiveness
and scientific excellence. This has become increasingly important to
continue to meet clients’ expectations and maintain Charles River’s
strong competitive position. Dr. Geller will lead a cross-sectional team
of Charles River’s functional and business-unit leaders that will be
tasked with the critical initiative to drive increased productivity and
efficiency at an accelerated pace.
RMS and PCS Management Structure
In conjunction with Dr. Geller assuming this new role, Davide Molho,
D.V.M., previously Corporate Executive Vice President and President,
North American Operations, will assume a broader range of
responsibilities with global oversight of the RMS and PCS businesses. In
his new role, Dr. Molho will assume the title of Corporate Executive
Vice President and President, Global Research Models & Services and
Preclinical Services Operations. Dr. Molho will be responsible for
transitioning from a unified, regional business alignment, which was
implemented in 2011, to a more fully integrated, global organizational
structure across North America, Europe and Asia.
Colin Dunn, Ph.D., has been promoted to the position of Corporate Senior
Vice President and General Manager, Research Models & Services, Europe
and Asia. Dr. Dunn was previously responsible for European RMS
operations, and in his expanded role, will oversee all of the Company’s
RMS operations in Europe, Japan and China. Dr. Dunn will report to Dr.
Molho, as will Dr. Brian Bathgate, Corporate Senior Vice President,
European Preclinical Services. Dr. Bathgate will continue to oversee
European preclinical operations, as well as global PCS Laboratory
Services.
Dr. Emily Hickey, who joined Charles River in October 2013 as Corporate
Vice President, In Vivo Discovery Research Services, will now report
directly to Mr. Foster. This reporting relationship reflects the
strategic importance of the Discovery Research Services business, as Dr.
Hickey helps drive the growth and expansion of this emerging outsourced
service opportunity. This reporting change parallels the organizational
structure that was previously established for the Company’s Endotoxin
and Microbial Detection business. Foster Jordan, Corporate Senior Vice
President, Endotoxin & Microbial Detection, will continue to report
directly to Mr. Foster.
Mr. Foster continued, “I am confident that the extensive experience and
strategic leadership capabilities of these senior executives will
contribute to the continued growth of Charles River.”
Caution Concerning Forward-Looking Statements
This news 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.
Forward looking statements include statements in this press release
regarding future demand for drug discovery and development products and
services including the outsourcing of these services; the specific
contributions of members of Charles River's management team and the
organizational changes; and expectations regarding market and industry
conditions. 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, including the timing and magnitude of our
share repurchases. A further 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 27, 2013, as
well as other filings we make with the Securities and Exchange
Commission. Charles River assumes no obligation and expressly disclaims
any duty to update information contained in this release except as
required by law.
About Charles River
Accelerating Drug Development. Exactly. 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.
Copyright Business Wire 2013