Posted on 24/08/2010 in Pharmaceutical Company Restructures Hospira has announced that its chief operating officer Terrence Kearney will be retiring from the firm at the end of the year.
Mr Kearney will step down from his position before December 31st 2010 and will see his responsibilities filled in part by current supply chain corporate vice-president James Hardy, who will be promoted to the new role of senior vice-president of operations.
This reorganisation will see Mr Kearney - formerly the firm's chief financial officer - depart Hospira having served with the company since its foundation as an independent business in 2004.
He will immediately commence working with Mr Hardy in order to ensure the transition is a smooth one.
Irving Bailey, Hospira's lead independent director, praised Mr Kearney for having "made significant contributions to the growth of the company and the creation of shareholder value over the past six years".
This comes after Hospira reported a year-on-year sales growth of 1.2 per cent in second quarter financial report last month, thanks to improvements in areas such as injectable pharmaceuticals.ear sales growth of 1.2 per cent in second quarter financial report last month, thanks to improvements in areas such as injectable pharmaceuticals. Other news stories from 24/08/2010
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