Shire yesterday announced boardroom changes as Dr. James H. Cavanaugh will step down as the pharmaceutical company’s chairman in June 2008 with CEO Matthew Emmens will succeed him at the Basingstoke based international pharmaceutical company.
Angus Russell will take over as CEO and David Kappler will be appointed deputy chairman while continuing his existing role as senior independent director.

James Cavanaugh has been Chairman of Shire since 1999 and, on retiring, will have been a member of the Board for 11 years.Matthew Emmens has 34 years of industry experience and since joining Shire in 2003, has successfully led the Company through a period of significant strategic development.

This has created a leading global specialty biopharmaceutical company with a well developed and diversified product portfolio, an excellent management team and a strong corporate culture

Matthew Emmens’ successor, as Chief Executive, will be Angus Russell, who has been Chief Financial Officer (CFO) since 1999 and who has also been instrumental in Shire’s development in recent years. Angus Russell is well qualified for his new position with eight years experience at Shire as CFO and Executive Board Director and 27 years experience in the pharmaceutical industry including working for ICI, Zeneca and AstraZeneca in finance, strategy and marketing

Commenting James Cavanaugh said:

It is an appropriate time to retire as I will have served some 11 years on Shire’s Board, eight as chairman, at our next Annual General Meeting. Matt has been an exceptional Chief Executive throughout the five years he has spent in the role. Over that time he has served both Shire and its shareholders outstandingly well, leading the company through a period of significant strategic and financial progress and providing strong returns for shareholders, with the company’s market capitalisation rising from £1.7 billion in March 2003 to its current £6.6 billion. Matt will make an excellent non-executive Chairman and we are delighted that he will continue to play an important part in Shire’s continued success.

Angus will make a strong Chief Executive and has both considerable experience of Shire and the pharmaceutical industry in general. He, with Matt, has been instrumental in guiding Shire’s successful development and creating such good returns for shareholders. Maintaining continuity for a successful specialty biopharmaceutical company in a dynamic industry will we believe protect and develop the Company and future returns to shareholders.

Matthew Emmens commented:

I would like to thank Dr Cavanaugh for his guidance over many years at Shire. During the time we have worked together, Shire has made great progress. I am delighted at the prospect of becoming non-executive Chairman of the Group and supporting Angus in his new role, for which he is very well qualified. The support of David Kappler will also prove invaluable. Shire has a clear strategy, a differentiated pharmaceutical business model and is well positioned to take advantage of the many opportunities in its markets. To date, the success of this strategy is demonstrated by a strong performance, reflected in our recently announced upgraded guidance for revenue growth for 2007.

A new service, launched locally by The Hampshire Clinic in Basingstoke, could reduce the number of sick days that employees take off.

A survey by The Confederation of British Industry (CBI) found that an average of 6.5 days were lost per worker in the south east last year due to sickness. With a workforce of nearly 5 million , it is estimated sickness accounts for a loss of over 31 million days in total for the region per year. Together with the rest of Britain, the cost to the economy overall is said to be over £13 billion in the UK . An estimated £5 billion of that is linked to back pain, one of the most common causes of sick leave.

The Hampshire Clinic has launched SpineCare, a ‘one-stop-shop’ for back pain, neck pain and sciatica with Mr A Quaile and Mr R Harker. SpineCare is an assessment that takes one day and can provide the patients with a diagnosis as well as a recommendation and advice on treatment – all on the same day.

Mr Quaile, Consultant Spinal Surgeon comments,

Back pain is caused by a number of things and takes on many different forms. It can have a devastating effect on an individual both physically and psychologically. It is essential to stop the pain before it becomes chronic and get the patient fit before it has serious economic, physiological and social effects on their life. In the majority of cases, back pain comes on suddenly and is most likely to be the result of a sprain or minor problem with a disk or joint. Nerve root pain is far less common than simple back pain (occurring in less than one in twenty cases) and means that a nerve coming from the spinal cord is irritated or pressed on and in extreme cases an operation may be necessary. It is crucial that all back pain is taken seriously and a diagnosis obtained as quickly as possible. Only 5% of patients end up with surgery.

Jan Hale, Hospital Director, also added:

We have developed this service to offer fast, accurate diagnosis and treatment on the same day which means employees don’t have to take time of work for multiple hospital attendances

For more information or to book an appointment, please ring 01256 357111or visit the SpineCare website.