Wyeth welcomes new senior vice-president

Wyeth has welcomed Timothy P Cost to the post of senior vice-president of corporate affairs after the board of directors gave its backing.

Following his election, Mr Cost will now take up the position immediately, succeeding Marily H Rhudy who has announced her retirement.

Mr Cost has worked in a number of senior executive roles and was executive vice-president of corporate affairs at Aramark before moving to Wyeth.

His other posts have included senior vice-president of corporate affairs at Pharmacia and vice-president of investor relations for Bristol-Myers Squibb.

Bernard Poussot, president and chief executive officer at Wyeth, expressed his delight with the new appointment.

“His extensive and broad experience, especially in the biotechnology and pharmaceutical sectors, will help us as we continue to deliver innovative new products and navigate the changing business environment,” he confirmed.

Mr Poussot went on to praise the work of Ms Rhudy, highlighting that she had built an outstanding public affairs team and developed strong external relationships to raise awareness of the company’s healthcare contributions.

Ms Rhudy joined Wyeth in 1993 as assistant vice-president of professional relations, quickly rising up the ranks to senior vice-president of corporate affairs in 2004.

Last month, Wyeth confirmed that it was considering job cuts that could reduce its workforce by ten per cent over the next three years as part of cost-cutting plans.