|[December 03, 2013]
Charles River Laboratories Adds Craig B. Thompson, M.D. to Board of Directors
WILMINGTON, Mass. --(Business Wire)--
Charles River Laboratories International, Inc. (NYSE: CRL) today
announced the appointment of Craig B. Thompson, M.D., President and
Chief Executive Officer, Memorial Sloan-Kettering Cancer Center, to its
Board of Directors. Dr. Thompson's extensive experience with both global
pharmaceutical companies and leading academic institutions in the fields
of cancer biology and immunology will provide Charles River with a
unique combination of expertise.
"Dr. Thompson's experience overseeing oncology and immunology research,
and particularly his focus on translational medicine, will enhance the
expertise of Charles River's Board," said James C. Foster, Chairman,
President and Chief Executive Officer of Charles River Laboratories.
"His understanding of the strategic use of outsourcing-whether by global
pharmaceutical companies, biotechnology companies, or academic and
government institutions-will enable us to strengthen our position as the
partner of choice for our clients' early-stage drug development
Prior to joining Memorial Sloan-Kettering Cancer Center in 2010, Dr.
Thompson held various roles at the University of Pennsylvania. He
currently serves as a member of the Medical Advisory Board of the Howard
Hughes (News - Alert) Medical Institute; on the Board of Directors of Merck & Co.,
Inc.; as a member of the Lasker Prize Jury; and as Associate Editor of
the journals Cell, Immunity, and Cancer Cell. Dr. Thompson
holds a number of patents related to immunotherapy and apoptosis, and is
a founder of three biotechnology companies. He is an elected member of
the National Academy of Sciences, the Institute of Medicine, the
American Academy of Arts and Sciences, the American Society for Clinical
Investigation, and the American Association of Physicians. Dr. Thompson
has published more than 350 peer-reviewed manuscripts nd more than 85
"I am pleased to join Charles River's Board and to work with this
outstanding team. I look forward to contributing to the future success
and growth of this recognized global leader," said Dr. Thompson.
Creates New Board Committee
In conjunction with Dr. Thompson's election, the Charles River Board of
Directors also established a new Science and Technology Committee. This
Committee will focus on identifying significant emerging trends in
science and technology as well as consider the potential impact of these
trends on the Company. It will also be responsible for periodically
reviewing and advising the Board on the Company's strategic direction
and investment in research and development activities. In addition to
Dr. Thompson, who will serve as the chairman, the Committee includes
current directors Mr. Stephen D. Chubb, Dr. Deborah T. Kochevar and Dr.
George M. Milne, Jr.
Increases Stock Repurchase Authorization
On December 3, 2013, the Board of Directors increased the $850 million
stock repurchase authorization by an incremental $150 million, to an
aggregate amount of $1.0 billion.
Caution Concerning Forward-Looking Statements
This news release includes forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. Forward-looking
statements may be identified by the use of words such as "anticipate,"
"believe," "expect," "will," "may," "estimate," "plan," "outlook," and
"project" and other similar expressions that predict or indicate future
events or trends or that are not statements of historical matters.
Forward looking statements include statements in this press release
regarding future demand for drug discovery and development products and
services including the outsourcing of these services; the specific
contributions of members of Charles River's Board of Directors; and
expectations regarding market and industry conditions. Forward-looking
statements are based on Charles River's current expectations and
beliefs, and involve a number of risks and uncertainties that are
difficult to predict and that could cause actual results to differ
materially from those stated or implied by the forward-looking
statements, including the timing and magnitude of our share repurchases.
A further description of these risks, uncertainties, and other matters
can be found in the Risk Factors detailed in Charles River's Annual
Report on Form 10-K as filed on February 27, 2013, as well as other
filings we make with the Securities and Exchange Commission. Charles
River assumes no obligation and expressly disclaims any duty to update
information contained in this release except as required by law.
About Charles River
Accelerating Drug Development. Exactly. Charles River provides essential
products and services to help pharmaceutical and biotechnology
companies, government agencies and leading academic institutions around
the globe accelerate their research and drug development efforts. Our
dedicated employees are focused on providing clients with exactly what
they need to improve and expedite the discovery, early-stage development
and safe manufacture of new therapies for the patients who need them. To
learn more about our unique portfolio and breadth of services, visit www.criver.com.
[ Back To Technology News's Homepage ]