Enhanced Efficiency Initiatives
The organizational changes are designed to further enhance the Company's worldwide productivity initiatives and promote the global management of its Research Models and Services (RMS) and Preclinical Services (PCS) businesses. The respective organizational changes are as follows:
Jörg Geller, D.V.M., Ph.D., previously Corporate Executive Vice President and President, European & Asian Operations, will now directly oversee a global initiative to enhance efficiency and drive increased productivity across all of Charles River's businesses worldwide. In his new role, Dr. Geller will assume the title of Corporate Executive Vice President, Global Productivity and Efficiency. Dr. Geller will be responsible for intensifying the Company's focus on driving productivity, while retaining its reputation for service, responsiveness and scientific excellence. This has become increasingly important to continue to meet clients' expectations and maintain Charles River's strong competitive position. Dr. Geller will lead a cross-sectional team of Charles River's functional and business-unit leaders that will be tasked with the critical initiative to drive increased productivity and efficiency at an accelerated pace.
RMS and PCS Management Structure
In conjunction with Dr. Geller assuming this new role,
Mr. Foster continued, "I am confident that the extensive experience and strategic leadership capabilities of these senior executives will contribute to the continued growth of Charles River."
Caution Concerning Forward-Looking Statements
This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "anticipate," "believe," "expect," "will," "may," "estimate," "plan," "outlook," and "project" and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Forward looking statements include statements in this press release regarding future demand for drug discovery and development products and services including the outsourcing of these services; the specific contributions of members of Charles River's management team and the organizational changes; and expectations regarding market and industry conditions. Forward-looking statements are based on Charles River's current expectations and beliefs, and involve a number of risks and uncertainties that are difficult to predict and that could cause actual results to differ materially from those stated or implied by the forward-looking statements, including the timing and magnitude of our share repurchases. A further description of these risks, uncertainties, and other matters can be found in the Risk Factors detailed in Charles River's Annual Report on Form 10-K as filed on
About Charles River
Accelerating Drug Development. Exactly. Charles River provides essential products and services to help pharmaceutical and biotechnology companies, government agencies and leading academic institutions around the globe accelerate their research and drug development efforts. Our dedicated employees are focused on providing clients with exactly what they need to improve and expedite the discovery, early-stage development and safe manufacture of new therapies for the patients who need them. To learn more about our unique portfolio and breadth of services, visit www.criver.com.