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ICON Announces Peter Gray To Retire As CEO

Stocks in this article: ICLR

ICON plc (NASDAQ:ICLR) (ISIN:IE0005711209), a global provider of outsourced development services to the pharmaceutical, biotechnology and medical device industries, today announced that Mr. Peter Gray has informed the Board of his decision to retire as CEO, after 14 years with the Company, the last 9 of which were as CEO. The Board has appointed Mr. Ciaran Murray, who has held the position of CFO for the last 6 years, to succeed Mr. Gray effective October 1, 2011. Mr. Murray has also been appointed as a member of the Board. Mr. Gray has agreed to take on the role of Vice Chairman to facilitate a smooth transition and to assist the Board in continuing strategic development.

Dr. Bruce Given, Chairman of ICON, commented “Peter’s leadership has been fundamental in establishing ICON as an industry leading Company and creating a world class management team. His contribution to ICON’s growth over the last number of years and to its success cannot be overstated. Peter has worked closely with the Board for several years in its development of a robust succession plan. We are therefore delighted that Peter will remain as Vice Chairman and that Ciaran will take on the role of CEO. Ciaran brings a deep knowledge of the industry together with extensive operational and global experience. He has a proven track record and has been a key member of the management team through ICON’s transformation to a global leader”.

“It has been a great honour to lead ICON through an extremely exciting phase of its development” said Peter Gray. “At a time of unprecedented change in the industry ICON is well positioned to capitalise on the investments we have been making in recent years and I believe that Ciaran is the right person to lead the organisation and its outstanding people through this next phase of growth.”

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