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Appointment of Kevin Sharer to Board of Directors

5 Jun 2015 07:00

RNS Number : 3046P
Allied Minds PLC
05 June 2015
 



 

 

FOR RELEASE ON 05 JUNE 2015

 

 

Allied Minds plc (the "Company" or the "Group")

 

Directorate Change

Appointment of New Non-Executive Director

 

· Sharer joins the Board of Directors of Allied Minds, bringing a wealth of experience and expertise to help oversee the Company's growing portfolio of life-science and high-technology companies which are commercializing innovations from top U.S. universities and federal research centers.

 

· Allied Minds' life-science ventures will benefit from Sharer's experience at Amgen, the world's largest independent biotechnology firm.

 

· A former Navy Lieutenant Commander who served as Chief Engineer on the USS Memphis, Sharer has also held executive positions at General Electric Co. and MCI Telecommunications Co., and brings expertise in corporate development and marketing that is directly applicable to Allied Minds' technology companies.

 

Boston (June 5, 2015) - Allied Minds (LSE: ALM), an innovative U.S. science and technology development and commercialization company, today announced the appointment of Kevin Sharer, the former Chairman and Chief Executive Officer of Amgen, to its Board of Directors.

 

Sharer led Amgen for two decades, starting as President and Chief Operating Officer in 1992, and then eventually taking over as Chief Executive Officer and Chairman. Amgen has credited Sharer with an expansion that resulted in operations in 55 countries and a more than fourfold increase in revenue to almost $16 billion. During his tenure, the company received regulatory approval for drugs including Neulasta, for preventing infections in cancer patients undergoing chemotherapy; Prolia for osteoporosis; and Xgeva for the prevention of bone complications such as fractures for cancer patients.

 

Sharer started his career in the Navy, studying aeronautical engineering at the U.S. Naval Academy. He served as Chief Engineer on the USS Memphis, overseeing the ship's construction and the crew's training, and later rose to become a Lieutenant Commander. Following his service, Sharer honed his business skills by working at McKinsey & Co. as a consultant, at General Electric Co. in corporate development, and at MCI Telecommunications Corp. as an executive vice president in marketing.

 

Sharer's experience as a global leader, as well as a mentor to senior management teams engaged in high-growth strategies, will be a valuable asset for Allied Minds, which is rapidly expanding its portfolio of companies engaged in commercializing innovations developed at top U.S. academic institutions, including Harvard, Yale and New York Universities, as well as federal research centers.

 

Having recently served on the boards of Chevron Corp. and Northrop Grumman Corp., Sharer is currently a member of the faculty at Harvard Business School, where he teaches, among other things, General Management.

 

Chris Silva, Chief Executive Officer of Allied Minds, commented: "We are delighted with the appointment of Kevin Sharer to our Board of Directors. He is a seasoned executive with a strong and highly relevant track record of successfully developing and commercializing new and disruptive science and technologies. I am confident that Kevin will further enhance our ability to transform U.S. inventions into commercial innovation."

 

Kevin Sharer commented: "I am very pleased to join the Board of Allied Minds. The company is very well positioned to commercialize next-generation technologies, having built an unparalleled network, screening and development approach, and portfolio of subsidiaries. I look forward to working with them to develop existing and new companies around potentially disruptive technologies."

 

As noted above, Mr. Sharer held directorships in three publicly quoted companies during the previous five years, including Amgen, Inc. (retired December 2012), Chevron Corporation (retired May 2015), and Northrop Grumman Corporation (retired May 2015). Mr. Sharer will serve as the Chairman of the Remuneration Committee of the Company, and also serve as a member of each of the Audit and Nomination Committees. Rick Davis will continue to serve as a member of each of the Audit, Nomination (Chair) and Remuneration Committees. Jeffrey Rohr will also continue to serve as a member of each of the Audit (Chair), Nomination and Remuneration Committees.

 

As recently disclosed, Peter Dolan was appointed to the role of Non-Executive Chairman of the Board of Directors of the Company, with effect from the conclusion of the Company's Annual General Meeting on 28 May 2015. In connection with Mr. Dolan's increased responsibilities as Non-Executive Chairman, he will no longer serve on either of the Audit, Nomination or Remuneration Committees. There are no further details in relation to Mr. Sharer's appointment which require disclosure pursuant to paragraph 9.6.13 of the Listing Rules of the Financial Conduct Authority.

 

About Allied Minds

 

Allied Minds (LSE: ALM) is an innovative U.S. science and technology development and commercialization company. Operating since 2006, Allied Minds forms, funds, manages and builds products and businesses based on innovative technologies developed at leading U.S. universities and federal research institutions. Allied Minds serves as a diversified holding company that supports its businesses and product development with capital, central management and shared services. More information about the Boston-based company can be found at www.alliedminds.com.

 

For more information, please contact:

 

Allied Minds plc www.alliedminds.com

 

Peter Dolan, Non-Executive Chairman +1 617 419 1800

 

Chris Silva, Chief Executive Officer +1 617 419 1800

 

FTI Consulting

 

Ben Atwell, Matthew Cole +44 (0) 20 3727 1000

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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