INC Research ($INCR) has announced that David Norton will take on the role of chairman of the board. The announcement explained that James Ogle, INC's then-chairman, would be retiring.
Ogle had been a member of INC's board of directors since 2003 and served as the company's CEO from 2003 to 2013.
Norton has been a member of the board of directors since February 2015 and brings with him 40 years of experience in the pharmaceutical industry. Most recently Norton was the interim CEO at Savient Pharmaceuticals (February to July of 2012). Norton also held the position of company group chairman of global pharmaceuticals at Johnson & Johnson ($JNJ), where he worked on licensing strategy and acquisitions and divestments, among other responsibilities.
Norton's career in pharmaceuticals began at J&J in 1979 when he worked as a project manager for J&Js Janssen in Australia.
"When searching for a leader to guide our Company, we knew we needed someone who understands the intricacies of global clinical research and has experience with the role CROs play in delivering medicines to market. We believe David is an ideal candidate," said CEO Jamie Macdonald in a press release. "As an existing INC Research board member, he is intimately familiar with our Company, our strategy and our place in the market. As a global leader with CEO experience in a clinical development setting, David brings the expertise needed to help guide INC Research through its development as one of the world's leading CROs."
INC Research had a solid first quarter showing this year, with net service revenue leaping 17.7% up to $249 million. This news came hand-in-hand with the unfortunate announcement that 175 employees worldwide had been let go from their positions, as part of a broader realignment of the company's workforce.
INC is also rumored to be looking to purchase LabCorp, who itself just closed a $6 billion buy of NJ-based CRO Covance.
- heres the announcement
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