Genzyme nominates new board member

Genzyme has announced the nomination of former Amgen executive vice-president of operations Dr Dennis Fenton to its board of directors.

The company’s nominating and corporate governance committee has selected Dr Fenton for the role due to his extensive industry experience, having played a key role in the development of Amgen for 25 years.

Henri Termeer, Genzyme’s chairman and chief executive officer, expressed confidence that Dr Fenton’s appointment will aid Genzyme’s efforts to reorganise its manufacturing activities.

In addition, the nomination also allows the company to fulfil an agreement with Relational Investors to select a recommended independent director.

Mr Termeer said: “We are excited by the prospect of having Dennis Fenton join our board of directors and commend Relational for its prompt and thoughtful recommendation.”

In Genzyme’s most recent financial report, Mr Termeer highlighted the transformation of the firm’s manufacturing operations as a key part of returning to sustainable growth, as well as advancing pipeline developments and maximising portfolio potential.