- Bernard Poussot to Become Chairman of the Board -
MADISON, N.J., April 24 /PRNewswire-FirstCall/ -- Wyeth (NYSE: WYE)
today announced that its Chairman, Robert Essner, 60, has decided to retire
from the Company effective June 27, 2008. Mr. Essner has held the position
of Chairman since January 2003 and served as Wyeth's Chief Executive
Officer from 2001 to 2007. The Company's Board of Directors has elected
Bernard Poussot, Wyeth's President and Chief Executive Officer, to the
additional position of Chairman, effective June 27, 2008.
Today's announcement is the culmination of a succession plan that began
in April 2006 when Mr. Poussot was promoted to President and Vice Chairman.
In January 2007, he was named President and Chief Operating Officer and was
elected to the Company's Board of Directors. He became CEO on January 1,
2008.
"We thank Bob for his outstanding contributions in leading our
Company," said John P. Mascotte, Chairman of the Wyeth Board's Nominating
and Governance Committee. "Bob and Bernard have been a great team for many
years, and this type of well-planned succession is in the best interests of
the Company, its employees and stockholders."
"Bob successfully led Wyeth's transformation from a holding company to
what is now a world leader in pharmaceuticals that has grown in annual
revenue from $14 billion in 2001 to more than $22 billion in 2007," said
Mr. Poussot. "During his tenure, Wyeth became a leader in biotechnology and
thanks to his commitment, we now have one of the most extensive Alzheimer's
programs in the health care industry."
"It has been an honor and privilege to lead Wyeth's rise to its current
position in the top-tier of the pharmaceutical industry," said Mr. Essner.
"Bernard and his management team are now prepared to take the Company to an
even higher level of success."
Wyeth is one of the world's largest research-driven pharmaceutical and
health care products companies. It is a leader in the discovery,
development, manufacturing and marketing of pharmaceuticals, vaccines,
biotechnology products, nutritionals and non-prescription medicines that
improve the quality of life for people worldwide. The Company's major
divisions include Wyeth Pharmaceuticals, Wyeth Consumer Healthcare and Fort
Dodge Animal Health.
SOURCE Wyeth
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Related links:
http://www.wyeth.com
CONTACT:
Media, Douglas Petkus, +1-973-660-5218, or
Investors, Justin Victoria, +1-973-660-5340, both of Wyeth
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