PAREXEL CREATES STRATEGIC ROLE AND APPOINTS CHRISTOPHER RIEDER AS CHIEF INFORMATION OFFICER
BOSTON, MA, December 11, 2006 — PAREXEL International Corporation (NASDAQ: PRXL), a leading global bio/pharmaceutical services organization, today announced that it has created a new, strategic leadership position of Chief Information Officer (CIO), and has appointed Christopher Rieder to the role. Managing the Company’s global information technology (IT) initiatives and worldwide IT leadership and staff, Mr. Rieder is responsible for accelerating the integration of technology solutions, information management and business processes to benefit PAREXEL’s clients and worldwide employees.
“We felt that this was the appropriate time to create the position of CIO because of the deeper online collaboration required among our clients and employees on worldwide clinical development programs, as well as the recent expansion of our global footprint, now reaching 54 offices in 40 countries, and increase in our employee base, which has grown more than 30% in five years,” said Josef H. von Rickenbach, Chairman and CEO of PAREXEL International. “Chris has extensive experience in the bio/pharmaceutical industry directing major IT initiatives to support mission-critical business processes. We believe that his strategic vision and leadership will position PAREXEL as a leader for efficient and flexible technology-driven solutions from which our clients and employees will significantly benefit.”
Mr. Rieder has more than 20 years of IT experience in translating business objectives into technological requirements and managing global IT organizations in application development and implementation as well as system integration. Prior to joining PAREXEL, Mr. Rieder was Vice President of Information Technology at Kos Pharmaceuticals, where he built a state-of-the-art, customer-centric IT division, determined IT strategy, and directed all corporate-wide IT initiatives. Previously, he held senior IT management positions at BRI International, a contract research organization, and at North American Vaccine, a provider of pediatric-based vaccines.
Mr. Rieder holds an MBA in Information Technology from The American University in Washington, D.C. and a BSBA in Business Economics and Pre-Medicine from The University of Arizona. He is a member of the Society for Information Management. Mr. Rieder is a contributing author to the book Improving Technology ROI: Leading CTOs and CIOs on Making Successful Technology Investments, Maximizing Return on Investments & Gaining a Competitive Edge.
PAREXEL International Corporation is a leading global bio/pharmaceutical services organization, providing a broad range of knowledge-based contract research, medical marketing and consulting services to the worldwide pharmaceutical, biotechnology and medical device industries. Committed to providing solutions that expedite time-to-market and peak-market penetration, PAREXEL has developed significant expertise across the development and commercialization continuum, from drug development and regulatory consulting to clinical pharmacology, clinical trials management, medical education and reimbursement. Perceptive Informatics, Inc., a subsidiary of PAREXEL, provides advanced technology solutions, including medical imaging, Clinical Trial Management Systems (CTMS), Interactive Voice Response Systems (IVRS) and integration services. Headquartered near Boston, Massachusetts, PAREXEL operates in 54 locations throughout 40 countries around the world, and has over 6,000 employees. For more information about PAREXEL International visit www.PAREXEL.com.
This release contains "forward-looking" statements regarding future results and events. 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," “estimates,” “projects,” “targets,” and similar expressions are also intended to identify forward-looking statements. The forward-looking statements in this release involve a number of risks and uncertainties. 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 loss, modification, or delay of contracts which would, among other things, adversely impact the Company’s recognition of revenue included in backlog; the Company's dependence on certain industries and clients; the Company's ability to win new business, manage growth and costs, and 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; the impact on the Company’s business of government regulation of the drug, medical device and biotechnology industry; consolidation within the pharmaceutical industry and competition within the biopharmaceutical services 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 and other international economic, political, and other risks. Such factors and others are discussed more fully in the section entitled "Risk Factors" of the Company’s Quarterly Report on Form 10-Q for the period ended September 30, 2006 as filed with the SEC on November 9, 2006, which “Risk Factors” discussion is incorporated by reference in this press release. The forward-looking statements included in this press release represent the Company’s estimates as of the date of this release. The Company specifically disclaims any obligation to update these forward-looking statements in the future. These forward-looking statements should not be relied upon as representing the Company’s estimates or views as of any date subsequent to the date of this press release.
PAREXEL is a registered trademark of PAREXEL International Corporation, and Perceptive Informatics is a trademark of Perceptive Informatics, Inc. All other names or marks may be registered trademarks or trademarks of their respective business and are hereby acknowledged.