PPD Announces the Nomination of Vaughn D. Bryson, Robert A. Ingram and Ralph Snyderman, M.D., to its Board of Directors

24 Mar. 2011


WILMINGTON, N.C., (March 24, 2011) - PPD, Inc. (Nasdaq: PPDI) today announced that it is nominating three new members for the stockholders to consider electing to its board of directors, Vaughn D. Bryson, Robert A. Ingram and Ralph Snyderman, M.D. They will join current directors Fred N. Eshelman, Pharm. D., executive chairman; Ernest Mario, Ph.D., lead independent director; Stuart Bondurant, M.D.; Frederick Frank; and Terry Magnuson, Ph.D.; on the company's slate at the annual meeting on May 18, 2011.

Mr. Bryson began his career with Eli Lilly and Company, where he spent 32 years, ultimately becoming president and chief executive officer, positions he held from 1991 until his retirement in 1993. From 1994 to 1996, Mr. Bryson was vice chairman of Vector Securities International, a health care-focused investment banking firm. In 1995, he became president of Life Science Advisors, LLC, a health care consulting company, a position in which he served until 2004. He is also a founder of Clinical Products, Ltd., a medical foods company. Mr. Bryson has served on the board of directors of many public and private companies, including Elan Corporation plc, Eli Lilly and Icos Corporation. He completed the Sloan Program at the Stanford University Graduate School of Business Administration and earned his bachelor of science in pharmacy from the University of North Carolina at Chapel Hill.

Mr. Ingram currently serves as a general partner of Hatteras Venture Partners, a venture capital firm that invests in early-stage life sciences companies. Mr. Ingram began his career in the pharmaceutical industry as a professional sales representative, ultimately rising to the role of chief executive officer and chairman of the board of directors of GlaxoWellcome. He co-led the merger and integration that formed GlaxoSmithKline, the world's second largest pharmaceutical company. Upon reaching the mandatory retirement age of 60, he was asked by the board of the company to serve as vice chairman, pharmaceuticals, which he did until January 1, 2010, at which time he became a strategic advisor to the chief executive officer, a position in which he continues to serve. Mr. Ingram also serves as a director on the boards of Allergan, Inc., Cree, Inc., Edwards Lifesciences Corporation, Elan Corporation plc, and Valeant Pharmaceuticals Inc. Mr. Ingram is also a director of Lowe's Companies, Inc., but is not standing for re-election and will conclude his service on that board in May 2011. Mr. Ingram earned his bachelor of science in business administration from Eastern Illinois University.

Dr. Snyderman currently serves as chancellor emeritus and James B. Duke professor of medicine at Duke University, a position he has held since July 2004. Dr. Snyderman began his career as a public health officer at the National Institutes of Health. From 1987 to 1989, he was with Genentech, Inc., where he initially served as vice president for medical research and development and later as senior vice president. He then served as chancellor for health affairs and dean of the school of medicine at Duke University from 1989 to July 2004. During this time, he oversaw the development of the Duke University Health System, serving as its first president and chief executive officer. From January 2006 to November 2009, he consulted for New Enterprise Associates as a venture partner, and he is also the founder and chairman of Proventys Inc., a developer of diagnostic tools for use with personalized medicine. Dr. Snyderman is currently a director of Targacept, Inc. and previously served on the boards of directors of The Proctor & Gamble Company and Axonyx Inc., a predecessor to Raptor Pharmaceutical Corp. In addition to his academic and administrative expertise, Dr. Snyderman is internationally recognized for his contributions as a research physician in the field of inflammation. He earned his M.D. from SUNY Downstate Medical Center and holds a B.S. from Washington College in Maryland.

Fred Eshelman, executive chairman, said, "Vaughn, Bob and Ralph will make great additions to our board of directors. Each brings with him a unique set of skills and extensive leadership experience in areas key to the continued growth and success of our business. Vaughn and Bob bring a wealth of knowledge of the pharmaceutical industry, a key segment of our customer base, while Ralph brings with him not only a medical background, but also deep knowledge of drug development and large health care systems."

Eshelman added, "I also want to extend our sincere appreciation to Dave Grange, Cathy Klema and Sandy McNeill for their outstanding services as directors on our board. During their respective tenures, the company experienced significant growth and expansion, and their guidance, counsel and contributions to the board have been an important part of PPD's success."

Except for historical information, all of the statements, expectations and assumptions contained in this news release, including expectations and assumptions regarding the above-named individuals and their future contributions and success, are forward-looking statements that involve a number of risks and uncertainties. Although PPD attempts to be accurate in making these forward-looking statements, it is possible that future circumstances might differ from the assumptions on which such statements are based. In addition, other important factors which could cause actual results to differ materially include the following: the integration of the new nominees into the Board, if elected; our ability to attract, integrate and retain key personnel, including specifically a new CEO; competition within the outsourcing industry; economic conditions and outsourcing trends in the pharmaceutical, biotechnology and medical device industries and academic and government-sponsored research sectors; success in sales growth; loss of or delay in large contracts; higher-than-expected cancellation rates; rapid technological advances that make our products and services less competitive; risks associated with acquisitions and investments, such as integration and impairments; risks associated with and dependence on collaborative relationships; risks that we may increase, reduce or discontinue our annual dividend policy; and the other risk factors set forth from time to time in the SEC filings for PPD, copies of which are available free of charge upon request from the PPD investor relations department.

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