Actelion nominates two Board Directors with outstanding pharmaceutical industry, management and financial expertise for election at the Annual General Meeting of 05 May 2011
ALLSCHWIL/BASEL, SWITZERLAND - 06 April 2011 - Actelion Ltd (SIX: ATLN) today announced the nomination of Jean-Pierre Garnier and Robert Bertolini for election to the Company's Board of Directors at the 2011 Annual General Meeting (AGM) of shareholders, to be held on 05 May 2011. When elected, Jean-Pierre Garnier will become a Vice Chairman together with Joseph C. Scodari. As part of its succession planning, it is the intention of the Board that Jean-Pierre Garnier will be appointed Chairman following, as previously announced, the conclusion of Robert E. Cawthorn's term of office at the 2012 Annual General Meeting.
Robert Cawthorn, Chairman of the Board of Directors said: "We are delighted to nominate two truly outstanding industry executives to serve on our Board. The Nominating & Governance Committee and the entire Board are convinced that their combined experience as both seasoned non-executive directors and as executives of some of the world's leading pharmaceutical and biotechnology companies will contribute significantly towards our objective of delivering a strategy that maximizes value creation for our shareholders."
Robert Cawthorn added: "Dr. Garnier's distinguished career includes seven years as the first CEO of GlaxoSmithKline. Thanks to his judgment, charisma, experience and energy, he made the integration of GlaxoWellcome and SmithKline Beecham a true success, creating the world's second largest pharmaceutical group at the time. His operational and financial expertise is respected across the industry. Mr. Bertolini, the former CFO of Schering-Plough, is highly experienced in finance, corporate strategy and governance. He will bring invaluable perspective to Actelion, having served more than 20 years in senior management and board director roles at innovative pharmaceutical and biotechnology companies as well as at a Big Four accountancy firm."
Robert Cawthorn concluded: "We believe that both nominees are uniquely qualified to help Actelion realize the value inherent in its business as the Company advances its well-balanced, late-stage pipeline and enters the next phase of its development."
Carl Feldbaum, Chairman of the Board's Nominating & Governance Committee added: "These two nominations follow the recent strengthening of the Board by Joseph Scodari and Michael Jacobi as part of our on-going efforts to optimize the composition of the Board for Actelion's next phase of growth. The nomination of Dr. Garnier and Mr. Bertolini underscores the Board's emphasis on providing knowledgeable, independent and seasoned strategic guidance as Actelion continues to evolve."
Dr. Jean-Pierre Garnier, commenting on today's announcement said: "I am very pleased to have been nominated to join the Actelion Board. I'm very impressed with the Company's track record and where it stands today as Europe's largest biopharmaceutical company. I believe Actelion's track record in translating superior drug discovery into meaningful therapeutic solutions is very exciting. I look forward to contributing to guiding the company through the next phase of growth."
Robert Bertolini added: "I am excited to have the opportunity to join Actelion's Board. The Company has the world's leading PAH franchise and excellent development potential. I am confident that, with the addition of my own and Jean-Pierre's experience, the expanded Board has the skills and experience to shape the future of the Company."
The re-election of three Board members, whose terms of office are up for renewal at this year's AGM, together with this nomination of two Board members, - one replacing the seat left open by the departure of Dr. Elias Zerhouni, who left at the end of 2010 to focus on his new role at Sanofi-aventis - will bring the total number of Board members to 11, the maximum allowed according to Actelion's articles of association.
Actelion's upcoming AGM is an important event in shaping Actelion's future. The invitation with the agenda items and the Board's recommendations will be published no later than 20 days ahead of the event. The Company encourages all shareholders to register their shares no later than 28 April 2011 and to vote for Actelion's slate of experienced director nominees by attending the AGM on 05 May 2011 either in person or by casting their vote via the independent proxy card that will be distributed to shareholders in due course.
Notes to the editor
About the proposed new members of the Actelion Board of Directors
From 2001 to 2008, Jean-Pierre Garnier was the first Chief Executive Officer of GlaxoSmithKline, assuming this role with the merger of SmithKline Beecham and Glaxo Wellcome. He joined SmithKline Beecham in 1990 as President of its pharmaceutical business in North America and served as Chairman, Pharmaceuticals from 1994 until his appointment as Chief Operating Officer in 1995. He was elected to the company's Board of Directors in 1992. He became Chief Executive Officer of SmithKline Beecham in April 2000.
Prior to SmithKline Beecham, Dr. Garnier served as President of Schering-Plough's US business. During his 15 years at Schering, he held various management positions, including General Manager of several overseas subsidiaries.
From 2008 to 2010, Jean-Pierre Garnier was CEO of Pierre Fabre Labs, a pharmaceutical and dermocosmetical company located in France.
He serves on the Boards of Directors of both United Technologies Corporation and Renault S.A. He is Chairman of the US biopharmaceutical company NormOxys (biotechnology), serves on the board of the French biotech firm Cerenis and acts as operating partner at Advent international, a global private equity firm.
Dr. Garnier's accomplishments have been recognized with many prestigious appointments and awards. In 2001 he was presented with the Marco Polo Award for GlaxoSmithKline's commitment to China. In 2005, he was presented with the Global Business Leadership Award from Stanford Business School. In July 2007, he was appointed to the UK Prime Minister's Business Advisory Council. In 2007/2008 he was strategic advisor to the Dubai International Capital investment fund. In 1997, Jean-Pierre Garnier received the Chevalier de la Légion d'Honneur and, in January 2008, he was promoted to Officier de Légion d'Honneur. In May 2009, Jean-Pierre Garnier was appointed as "Knight Commander of the British Empire".
Jean-Pierre Garnier holds a PhD in pharmacology and an MS in pharmaceutical science from the Louis Pasteur University of Strasbourg, France. As a Fulbright Scholar, he earned an MBA at Stanford University, California in 1974.
Robert J. Bertolini, is a senior-level executive with extensive experience in audit, financial controls and corporate governance. Mr. Bertolini has served various key roles at numerous top-tier pharmaceutical organizations. He brings strong industry and financial expertise to the Actelion Board, having experience in building world-class finance and information technology functions and in leading business development and strategy.
From 2003 to 2009, Robert Bertolini was Executive Vice President and Chief Financial Officer at Schering Plough Corporation. He joined Schering-Plough during a time when it was facing challenges across several areas. Robert Bertolini worked hand-in-hand with the CEO in all aspects of transforming operations and was part of the team that turned the company around and drove strategic decisions that more than doubled its adjusted net sales from $8.6 billion in 2004 to $20.8 billion in 2008.
Prior to joining Schering-Plough, Mr. Bertolini spent 20 years at PriceWaterhouseCoopers holding positions of increasing responsibility, where he finally led a global organization serving the pharmaceutical industry and other health-related industries.
Robert Bertolini played a senior adviser role to top management of client companies such as Merck, Pharmacia and Johnson & Johnson on all financial and general business issues including licensing agreements, merger & acquisition transactions, IPO's, strategic partnering, audit, financial controls and corporate governance.
He joined the respective Boards of Genzyme Corporation in December 2009 and Charles River Laboratories International, Inc. in January 2011.
He is a Certified Public Accountant licensed in New York and New Jersey. Mr. Bertolini graduated with a B.A. degree in Economics from Rutgers University, the State University of New Jersey.
Actelion Ltd is a biopharmaceutical company with its corporate headquarters in Allschwil/Basel, Switzerland. Actelion's first drug Tracleer®, an orally available dual endothelin receptor antagonist, has been approved as a therapy for pulmonary arterial hypertension. Actelion markets Tracleer® through its own subsidiaries in key markets worldwide, including the United States (based in South San Francisco), the European Union, Japan, Canada, Australia and Switzerland. Actelion, founded in late 1997, is a leading player in innovative science related to the endothelium - the single layer of cells separating every blood vessel from the blood stream. Actelion's over 2,400 employees focus on the discovery, development and marketing of innovative drugs for significant unmet medical needs. Actelion shares are traded on the SIX Swiss Exchange (ticker symbol: ATLN) as part of the Swiss blue-chip index SMI (Swiss Market Index SMI®).
For further information please contact:
Vice President, Head of Investor Relations & Public Affairs
Actelion Pharmaceuticals Ltd, Gewerbestrasse 16, CH-4123 Allschwil
+41 61 565 62 62
+1 650 624 69 36
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