PAREXEL INTERNATIONAL CORPORATION APPOINTS CARL A. SPALDING PRESIDENT AND CHIEF OPERATING OFFICER
BOSTON, MA, April 9, 2001 — PAREXEL International Corporation (Nasdaq: PRXL) announced today that Carl A. Spalding has been appointed President and Chief Operating Officer of the Company. Josef H. von Rickenbach, who had also been serving in this capacity, will continue to serve as PAREXEL’s Chief Executive Officer and Chairman. In this newly created position, Mr. Spalding will assume responsibility for the operations of the Clinical Research Services, the PAREXEL Consulting Group and the Medical Marketing Services strategic business units, as well as for the administrative management of the Company. Mr. von Rickenbach will continue to oversee the Perceptive Informatics business.
Mr. Spalding brings to PAREXEL over 30 years of extensive healthcare management experience, serving most recently as an Executive Vice President and Group President at Cardinal Health, Inc., with responsibility for several businesses providing services to the bio/pharmaceutical industry. Prior to Cardinal Health, Carl served for six years as Vice President and General Manager of Pediatric Products for the Ross Products Division of Abbott Laboratories. Previously, he was with Johnson & Johnson for 22 years in a variety of domestic and international management positions.
"The addition of Carl Spalding to our senior executive management team is an exciting and positive step for PAREXEL, and will better enable the Company to effectively meet its operational goals”, said Josef H. von Rickenbach, CEO and Chairman of PAREXEL. “Carl’s substantial experience in and knowledge of the bio/pharmaceutical industry will be instrumental to the further success of the Company's core businesses. This expansion of the senior management team will allow me to focus more intently on growth opportunities for PAREXEL, including the development of new and innovative service offerings and the advancement of our technology initiatives.”
PAREXEL is one of the largest contract pharmaceutical outsourcing organizations in the world, providing a broad range of knowledge-based contract research, medical marketing and consulting services to the worldwide pharmaceutical, biotechnology and medical device industries. With a commitment to providing solutions that expedite time-to-market and peak market penetration, PAREXEL has developed significant expertise in clinical trials management, data management, biostatistical analysis, medical marketing, clinical pharmacology, regulatory and medical consulting, industry training and publishing and other drug development consulting services. Its newest subsidiary, Perceptive Informatics, Inc., provides a variety of technology products and services, including web-based portal solutions and voice and data systems, which are designed to accelerate and enhance the clinical development and launch processes. The Company’s integrated services, therapeutic area depth and sophisticated information technology, along with its experience in global drug development and product launch services, represent key competitive strengths. Headquartered near Boston, MA, PAREXEL operates in 47 locations throughout 29 countries around the world, and has approximately 4,350 employees.
This release may contain "forward-looking" statements regarding future results and events, including statements regarding expected financial results, future growth and customer demand that involve a number of risks and uncertainties. For this purpose, any statements contained herein that are not statements of historical fact may be deemed forward-looking statements. Without limiting the foregoing, the words "believes", "anticipates", "plans", "expects", "intends", "appears" and similar expressions are intended to identify forward-looking statements. The Company's actual future results may differ significantly from the results discussed in the forward-looking statements contained in this release. Important factors that might cause such a difference include, but are not limited to, risks associated with: actual operating performance; actual expense savings and other operating improvements resulting from recent restructurings; the cancellation, revision, or delay of contracts, including those contracts in backlog; the Company's dependence on certain industries and clients; the Company's ability to manage growth and its ability to attract and retain employees; the Company's ability to complete additional acquisitions and to integrate newly acquired businesses or enter into new lines of business; government regulation of certain industries and clients; competition and consolidation within the pharmaceutical industry; the potential for significant liability to clients and third parties; the potential adverse impact of health care reform; and the effects of exchange rate fluctuations. Such factors and others are discussed more fully in the section entitled "Risk Factors" of the Company's Form 10-Q for the period ended December 31, 2000.