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Biogen Idec, Inc. (California) (BIIB) to Name CEO in Coming Weeks; COO to Exit



6/8/2010 7:03:55 AM

CAMBRIDGE, Mass.--(BUSINESS WIRE)--Biogen Idec, a global biotechnology leader in the discovery, development, manufacturing, and commercialization of innovative therapies, today announced that the Board of Directors is in the final stages of selecting a Chief Executive Officer and expects to announce the appointment in the coming weeks. As previously announced, James C. Mullen, President, Chief Executive Officer and director, will retire from the Company on June 8. The Company’s senior leadership team will report to Board Chairman William D. Young on an interim basis as the process is completed.

Mr. Young said, “The Board has conducted a thorough selection process and is unified in its view that we will have the right leader with the right experience in place very soon to take Biogen Idec to the next level. We expect to announce the appointment shortly.”

Biogen Idec also announced that Chief Operating Officer Robert A. Hamm, 58, has decided to retire on December 31, 2010 after 16 years with the Company. In addition, John G. Cox has been promoted to the new position of Executive Vice President of Pharmaceutical Operations and Technology. Mr. Cox will oversee the Company’s global manufacturing, technical development, supply chain, engineering and facilities operations across the globe. He joined Biogen Idec in 2003 and most recently served as Senior Vice President of Global Manufacturing and Operations.

“On behalf of the Board, I would like to reiterate our deepest thanks to Jim Mullen and Bob Hamm for their many years of leadership and contributions to the growth of Biogen Idec into a global biotechnology leader,” said Mr. Young. “We wish them well in the future. We are pleased that John Cox has joined our talented senior leadership team.”

About Biogen Idec

Biogen Idec creates new standards of care in therapeutic areas with high unmet medical needs. Founded in 1978, Biogen Idec is a global leader in the discovery, development, manufacturing, and commercialization of innovative therapies. Patients worldwide benefit from Biogen Idec's significant products that address diseases such as lymphoma, multiple sclerosis, and rheumatoid arthritis. For product labeling, press releases and additional information about the company, please visit www.biogenidec.com.

Safe Harbor

This press release contains forward-looking statements that are based on our current beliefs and expectations. These statements speak only as of the date of this press release. We do not undertake any obligation to publicly update any forward-looking statements, whether as a result of new information, future events, or otherwise.

Contact:

Biogen Idec Media Contact: Amy Reilly, 617-914-6524 Associate Director, Public Affairs or Biogen Idec Investor Relations Contact: Kia Khaleghpour, 617-679-2812 Associate Director, Investor Relations


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