Shire plc (LSE: SHP, NASDAQ: SHPG) announces that Graham Hetherington, Chief Financial Officer (CFO), has notified the Board of Directors of his decision to step down. The Board has agreed that Graham will step down from Shire’s Board of Directors on March 1, 2014. Shire’s Senior Vice President and Group Financial Controller, James Bowling, will be appointed as interim Shire CFO with effect from that date. Shire will start immediately a global search for Graham’s successor.
James Bowling joined Shire in 2005 and during this time has been a key leader in Shire’s finance team for the past nine years. He has led Shire's financial reporting, financial planning & analysis, and treasury & insurance teams. As part of his role, James has had regular interaction with the Company's Board of Directors, in particular supporting the Audit, Compliance & Risk Committee and the Remuneration Committee.
Flemming Ornskov, Shire Chief Executive commented:
“After a distinguished thirty-five year corporate career, including almost six years at Shire, Graham has decided he wants to spend more time with his family and to pursue his many outside interests. We are grateful for his many contributions to Shire and, on behalf of the Company, we wish him well. I am pleased that we will have an excellent interim leader in James Bowling. Our 2013 results and our confident 2014 outlook demonstrate that Shire is in a strong position and has a great future of growth ahead.”
Graham Hetherington added:
“I have enjoyed my years with Shire and after 35 years in corporate life, now is the moment to start spending more time with my family. Shire has a clear, refreshed strategy in place and is in robust financial health. I will continue to take a keen interest in the performance of Shire in the years to come.”
For further information please contact:
Jessica Mann firstname.lastname@example.org
+44 1256 894 280
NOTES TO EDITORS
Shire enables people with life-altering conditions to lead better lives.
Our strategy is to focus on developing and marketing innovative specialty medicines to meet significant unmet patient needs.
We provide treatments in Neuroscience, Rare Diseases, Gastrointestinal and Internal Medicine and we are developing treatments for symptomatic conditions treated by specialist physicians in other targeted therapeutic areas.
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FORWARD - LOOKING STATEMENTS - "SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
Statements included in this announcement that are not historical facts are forward-looking statements. Forward-looking statements involve a number of risks and uncertainties and are subject to change at any time. In the event such risks or uncertainties materialize, Shire’s results could be materially adversely affected. The risks and uncertainties include, but are not limited to, that:
and other risks and uncertainties detailed from time to time in Shire’s filings with the U.S. Securities and Exchange Commission, including its most recent Annual Report on Form 10-K.