Syneos taps Michael Bonello as CFO as talk of a sale swirls

Syneos Health, a North Carolina-based CRO, has tapped Michael Bonello as its next chief financial officer, effective July 1.

Bonello, who has deep industry roots, will replace Stanford Rudnick, who has been serving in the role on an interim basis, the company said in a May 2 press release.

News of Bonello’s appointment comes as talk continues to swirl that Syneos is looking for a suitor. Reuters reported in February that the company hired Bank of America and Centerview Partners to help in talks with potential buyers.

Syneos was first reported to be looking to put itself on the block in 2020 just two years after it was formed in a $7.4 billion merger of INC Research and inVentiv, but the COVID-19 pandemic cooled any possible sale. The company rebranded itself in 2018.

Bonello boasts more than 30 years of experience in the financial arena—including 15 years in the CRO field. He was recently CFO at Clario, a clinical trial data collection company. Previously, he held several executive positions at PRA Health Sciences and was CFO there during its sale to ICON.

“As we further transform Syneos Health for the technology and data-powered future of clinical development and commercialization, I look forward to working with Mike and our entire team to execute on our growth, innovation and efficiency goals,” Michelle Keefe, Syneos’ chief executive, said in the release.