Parexel CEO to open Nasdaq stock exchange

Parexel's chairman and chief executive officer Josef von Rickenbach is set to ring the opening bell at the Nasdaq MarketSite in New York City on Wednesday (May 30th).

The ceremony, which will be simultaneously broadcast on the Nasdaq tower in Times Square, is one of several special events that have been arranged to celebrate the biopharmaceutical services company's 30th anniversary.

"We are at Nasdaq celebrating a major milestone and acknowledging the dedication of our employees," said Mr Von Rickenbach, who co-founded Parexel with Ms Anne Sayigh.

He added that the company, which now employs more than 11,000 people in over 70 locations, has "focused on delivering safe and effective treatments to patients worldwide" since it was founded in 1982.

The Massachusetts-based firm has seen service revenues grow from $80 million (50.9 million pounds) to approximately $1.2 billion since its initial public offering in 1995.