News broke late last night that Icon CEO Peter Gray will step down from the post next month in a move that Jefferies & Co analyst David Windley described as ‘unexpected’ and "a decision made in the last few weeks".
The timing was confirmed by Simon Holmes, Icon’s VP group marketing and market development, who told Outsourcing-pharma.com that: “Peter has worked closely with the Board for several years in its development of a robust succession plan but only made his decision to retire this week.”
Holmes explained that Gray will continue at Icon as vice chairman to support new CEO Ciaran Murray and added that: “Peter strongly believed that the incoming CEO should take the reins quickly to create immediate clarity around decision making and facilitate a seamless transition.”
Partnering
Holmes also rejected the suggestion that Gray’s departure would disrupt Icon’s efforts to form strategic partnerships - the most recent of which was signed with US drugmaker Bristol Myers Squibb just last week.
“Peter’s move to Vice Chairman should not have any impact on the operations of the business or on strategic relationships. ICON has a strong and deep management team who together manage the operations and support the development and maintenance of strategic relationships.”
Holmes added that all of Icon’s senior team are intimately involved in the development of strategic partnerships, working in a defined relationship management structure with the support of operational managers.
He added: “Mr Murray brings a deep knowledge of the industry together with extensive operational and global experience. He has been a key member of the management team through Icon’s transformation to a global leader [in the CRO sector].”