LabCorp Names Veteran Biopharma Executive John Ratliff CEO of Covance Drug Development
September 20 2016 - 8:30AM
Business Wire
Laboratory Corporation of America® Holdings (LabCorp®)
(NYSE:LH), the world’s leading healthcare diagnostics company,
today announced that veteran biopharmaceutical executive John
Ratliff will succeed Deborah Keller as CEO of Covance Drug
Development, effective October 1. Ratliff will be a member of the
LabCorp executive committee and will report to David P. King,
chairman and CEO of LabCorp.
This Smart News Release features multimedia.
View the full release here:
http://www.businesswire.com/news/home/20160920006046/en/
John Ratliff (Photo: Business Wire)
“John is a highly respected biopharmaceutical leader, with
extensive experience in increasingly important roles in the
industry,” said King. “Those who know him and have seen him in
action as a leader are impressed by his strength as an executive.
He has a stellar reputation in the CRO and pharma sectors. I am
delighted that he has agreed to join us at such an exciting
time.”
Most recently, Ratliff served as president and CEO of HUYA
Bioscience International, a leader in globalizing biopharma
innovation. Ratliff’s experience in biopharma also includes nearly
10 years at Quintiles, the world’s largest provider of product
development and integrated healthcare services, joining as chief
financial officer in 2004, becoming chief operating officer in
2006, and president and COO in 2010. Ratliff holds a bachelor’s
degree in industrial and systems engineering from the Georgia
Institute of Technology in Atlanta and a master’s degree in
business administration from Duke University in Durham, North
Carolina.
“LabCorp is a global leader in healthcare innovation, and the
addition of Covance has strengthened its position as the world’s
leading healthcare diagnostics company,” Ratliff said. “The Covance
team has an unwavering commitment to quality and service,
furthering the company’s strategy of bringing innovative new
medicines to patients faster. I am excited to join a highly
accomplished leadership team that is deeply committed to improving
health and improving lives around the globe.”
Keller Leaving Covance Following Successful Integration
Efforts
Outgoing CEO Keller joined Covance in 1987. She served in
various positions at the company for 29 years, succeeding Joseph
Herring as CEO in August 2015.
“Deb did a tremendous job accomplishing all of the key
objectives she was given when she assumed the CEO role: managing
through leadership changes, stabilizing the business and restoring
growth,” said King. “On behalf of our board of directors, senior
management and our employees around the world, I thank Deb for her
dedicated service.”
Said Keller: “It has been a fantastic career and a privilege to
support Covance’s important work over the last three
decades. I want to sincerely thank the tremendous colleagues
and clients with whom I have had the pleasure to work over many
years.”
Covance Drug Development is the world’s most comprehensive drug
development company and is the only provider of full-spectrum drug
development services from early-stage research to regulatory
approval and beyond. Covance provides a wide range of drug
research, development and market-access solutions to
pharmaceutical, biotechnology and medical device companies across
the world.
About LabCorp®
Laboratory Corporation of America® Holdings (NYSE: LH),
an S&P 500 company, is the world’s leading healthcare
diagnostics company, providing comprehensive clinical laboratory
and end-to-end drug development services. With a mission to improve
health and improve lives, LabCorp delivers world-class diagnostic
solutions, brings innovative medicines to patients faster and
develops technology-enabled solutions to change the way care is
provided. With net revenue in excess of $8.5 billion in
2015, LabCorp’s 50,000 employees serve clients in 60 countries. To
learn more about LabCorp, visit www.labcorp.com, and to learn
more about Covance Drug Development,
visit www.covance.com.
Forward-Looking Statements
This press release contains forward-looking statements including
with respect to estimated 2016 guidance and the impact of various
factors on operating results. Each of the forward-looking
statements is subject to change based on various important factors,
including without limitation, competitive actions in the
marketplace, adverse actions of governmental and other third-party
payers and the results from the Company’s acquisition of Covance.
Actual results could differ materially from those suggested by
these forward-looking statements. Further information on potential
factors that could affect LabCorp’s operating and financial results
is included in the Company’s Form 10-K for the year ended December
31, 2015, and subsequent Forms 10-Q, including in each case under
the heading risk factors, and in the Company’s other filings with
the SEC, as well as in the risk factors included in Covance’s
filings with the SEC. The information in this press release should
be read in conjunction with a review of the Company’s filings with
the SEC including the information in the Company’s Form 10-K for
the year ended December 31, 2015, and subsequent Forms 10-Q, under
the heading MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL
CONDITION AND RESULTS OF OPERATIONS.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160920006046/en/
InvestorsPaul Surdez,
336-436-5076Investor@labcorp.comorMediaPattie
Kushner, 336-436-8263Media@labcorp.comCompany
Information: www.labcorp.com
Laboratory Corporation o... (NYSE:LH)
Historical Stock Chart
From Mar 2024 to Apr 2024
Laboratory Corporation o... (NYSE:LH)
Historical Stock Chart
From Apr 2023 to Apr 2024