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Home Industry News Elan announces board changes

Elan announces board changes

11th April 2007

Elan has announced a number of changes to its executive board that will take effect from the start of July 2007 at its next annual general meeting.

Following 11 years on the board, Dr Alan Gillespie will retire at the meeting, while William Daniel will also step down from the board but remain a member of the executive management and corporate secretary of the firm.

These directors will be replaced by Dr Floyd E Bloom, a neuroscientist and former chairman of the Scripps Research Department of Neuropharmacology and Jeffrey L Shames, former chairman and chief executive officer of MFS Investment Management.

Kyran McLaughlin, chairman of Elan, said: “The board enthusiastically welcomes Dr Bloom and Mr Shames to the board.

“Their respective backgrounds in neuroscience and biotechnology as well as in global business management and finance will make them valued additions to the overall board.”

He added that the firm appreciates the importance of its board members having a mix of different relevant backgrounds to provide a good mix of industry experience, while a balance of executive and non-executive members will guarantee adequate governance and representation of shareholders.

This week, Elan announced the initiation of an exchange offer for $615 million (311.08 million pounds) aggregate principal amount of notes.

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