"Bob is an accomplished chief financial officer who will uphold PPD's long-standing reputation as a company committed to integrity, financial discipline and sustainable growth," said David Simmons, PPD's chairman and chief executive officer. "We are confident Bob's experience, strong business mind and financial acumen will complement and aid PPD's focus on delivering value for our biopharmaceutical clients."
Hureau joined PPD from Centaur Guernsey L.P. Inc., a leading global medical technology company focused on transformational healing solutions, where he served as executive vice president and CFO. Previously, he held a series of senior leadership positions of increasing responsibility, including senior vice president and CFO at Sensata Technologies N.V., a supplier of sensing, electrical protection, control and power management solutions, and vice president of finance with The Jean Coutu Group (PJC) U.S.A., Inc., chain of retail pharmacies. In addition, Hureau's experience includes financial leadership responsibilities with Ocean Spray Cranberries, Inc., and other companies in the consumer sector. Hureau is a certified public accountant and began his career at Coopers & Lybrand.
PPD is a leading global contract research organization providing drug discovery, development, lifecycle management and laboratory services. Our clients and partners include pharmaceutical, biotechnology, medical device, academic and government organizations. With offices in 46 countries and approximately 13,000 professionals worldwide, PPD applies innovative technologies, therapeutic expertise and a commitment to quality to help clients and partners accelerate the delivery of safe and effective therapeutics and maximize the returns on their R&D investments. For more information, visit www.ppdi.com.
Except for historical information, all of the statements, expectations and assumptions, including statements, expectations and assumptions about PPD's new executive vice president and chief financial officer, contained in this news release are forward-looking statements that involve a number of risks and uncertainties. Although PPD attempts to be accurate in making these forward-looking statements, it is possible that future circumstances might differ from the assumptions on which such statements are based and could cause actual results to differ materially from the forward-looking statements. Other important factors that could cause future results to differ materially include the following: the ability to attract, integrate, retain and train key personnel; competition in the outsourcing industry; PPD's ability to win new business; the ability to control SG&A spending; overall global economic conditions; economic conditions, research and development spending, and outsourcing trends in the pharmaceutical, biotechnology and government-sponsored research sectors; loss, delay or modification of large contracts; higher-than-expected cancellation rates; the rate of conversion of backlog into revenue; risks associated with acquisitions and investments; rapid technological advances that make our services or capabilities less competitive; compliance with drug development regulations; changes in the regulation of the drug development process; consolidation in the pharmaceutical and biotechnology industries; risks associated with and dependence on strategic relationships; and actual operating performance. PPD assumes no obligation and expressly disclaims any duty to update these forward-looking statements in the future, except as required by applicable law. These forward-looking statements should not be relied upon as representing PPD's estimates or views as of any date subsequent to the date hereof.