Hospira, Inc. (HSP) Announces Executive Changes
LAKE FOREST, Ill., March 1, 2013 /PRNewswire/ -- Hospira, Inc. (NYSE: HSP), the world's leading provider of injectable drugs and infusion technologies, today announced that Royce R. Bedward has been appointed corporate vice president, general counsel and secretary, effective immediately. In his new role, Mr. Bedward will oversee the company's legal department, including litigation, benefits, labor and employment, intellectual property, governance, securities and transactional matters. He will report to Brian Smith, who has served as Hospira's senior vice president and general counsel since its spin-off in 2004, and now assumes the newly created role of chief legal officer, including responsibility for government affairs. Both Mr. Smith and Mr. Bedward will serve as members of the company's senior leadership team, led by F. Michael Ball, chief executive officer.
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"Royce is an accomplished lawyer and integrity-driven business leader with more than 10 years of experience in the healthcare field and a proven track record of success at Hospira," said Mr. Ball. "We look forward to Royce's many additional contributions, while thanking Brian for his continued service and counsel. Working together, I'm confident that their strong leadership abilities will help position Hospira for a stronger future of sustainable, long-term growth and drive greater value for our stakeholders."
Mr. Bedward, 47, is one of the founding members of Hospira's legal leadership team, joining the company at its inception as its vice president of litigation, and assuming roles of increasing responsibility, most recently holding the position of deputy general counsel and secretary. Prior to the company's spin-off from Abbott Laboratories, Mr. Bedward served as Abbott's senior counsel, litigation, where his practice included patent issues related to the Hatch-Waxman Act, defense of investigations, major commercial disputes, product liability matters and arbitrations.
Mr. Bedward began his career as an attorney for the law firm Jenner & Block, where he was ultimately promoted to partner. At the firm, he handled a wide array of complex litigation matters, including fraud and business torts, intellectual property matters, product liability and insurance recovery actions.
Born in Madison, Wis., Mr. Bedward earned his bachelor's degree in business administration, magna cum laude, from Saint Norbert College. He holds a juris doctorate degree, magna cum laude, from the University of Illinois College of Law, where he also served as an editor on the Law Review.
In another organizational move, Hospira announced that Sumant Ramachandra, M.D., Ph.D., is resigning from his position as senior vice president and chief scientific officer, effective March 8. Dr. Ramachandra has served in this role since 2008. The company has initiated a search for his successor and instituted an interim reporting structure that will ensure seamless advancement of the company's research and development priorities, including its global expansion and biosimilars programs.
Said Mr. Ball, "On behalf of Hospira, I'd like to thank Sumant for his many contributions and wish him the best in his future endeavors. During his tenure, we have established one of the most robust biosimilars pipelines in the industry, expanded an already market-leading generic injectables portfolio and built a talented scientific, medical and regulatory organization to execute our vision for future success."
About Hospira
Hospira, Inc. is the world's leading provider of injectable drugs and infusion technologies. Through its broad, integrated portfolio, Hospira is uniquely positioned to Advance Wellness by improving patient and caregiver safety while reducing healthcare costs. The company is headquartered in Lake Forest, Ill., and has approximately 16,000 employees. Learn more at www.hospira.com.