PRA International, Inc. Appoints Shannon as CEO
Published: Dec 14, 2009
RALEIGH, N.C., Dec. 14 /PRNewswire/ -- PRA International, a leading Clinical Research Organization, is pleased to announce that Colin Shannon, who has served as President and Chief Operating Officer of PRA since May 2007, has been appointed President, Chief Executive Officer (CEO) and Director, effective Jan. 1, 2010.
"It is with great pleasure that we welcome Colin to this top executive role," said Chairman of the Board, Melvin D. Booth. "Having worked closely with Colin for the last two and one-half years, it is clear that he is the ideal person to lead our Company. This planned transition ensures that PRA will maintain its momentum in driving 'evidence-based decision making' into clinical development and its continued focus on building a talent pool of clinical professionals." Jean-Pierre L. Conte, Chairman and Managing Director of Genstar Capital, LLC, the principal investor in PRA, further commented, "Colin has brought to PRA a depth of industry knowledge and a leadership style that fits well with our culture. We are confident PRA will continue to flourish under his leadership."
Prior to joining PRA, Mr. Shannon was employed by Pharmaceutical Product Development, Inc. (PPD) for twelve years in key executive positions, the last being Executive Vice President, Global Clinical Operations. Before joining PPD, Mr. Shannon held financial positions with various other companies. He holds a master's degree in business administration from London's City University and is a Fellow Member of the Chartered Association of Certified Accountants.
"I always had a deep respect for the PRA organization and its reputation within the industry," said Mr. Shannon. "Since joining PRA, the executive team has focused on developing our current mission and vision. As a result, my respect for PRA has deepened even more. I am truly impressed with the quality and commitment of the entire PRA team. Working together, we will build a global legacy of quality and trust."
"Much of the credit for this well-orchestrated transition goes to Terry Bieker," said Mr. Booth. "Three years ago Terry joined PRA, initially as a Director and Interim CEO, and a few months later as CEO. Thanks to Terry's leadership, we have aggressively grown our business globally by recruiting top talent, executing an innovative strategy, providing visionary leadership and committing to excellent service to our clients and respect for our employees." Mr. Conte added, "Terry is someone we know well as Genstar worked with him in a previous successful investment. We are very pleased with his leadership and the growth initiatives implemented under his tenure and, while we will miss him, we look forward to his continued counsel as a member of the PRA Board of Directors. "
"It has been an honor to serve as CEO," said Mr. Bieker. "I have enjoyed working with the many dedicated, professional people at PRA and I look forward to remaining an active board member. Retiring was a difficult choice to make, but I feel confident in knowing that Colin will be at the helm and will continue to lead PRA along the road to success."
About PRA International
PRA performs studies in all therapeutic areas, with specialization in oncology, neurosciences, respiratory/allergy, cardiovascular and infectious diseases. PRA has supported over 2,100 clinical trials through its 36 global offices. PRA's therapeutic expertise, global reach and project experience, combined with extensive local knowledge and its differentiating PERSONAL ELEMENT enable its project teams to deliver consistent and on-time performance for clients.
This unique PRA philosophy—THE PERSONAL ELEMENT—recognizes that true client service comes only from trained, empowered and dedicated employees who are encouraged to use innovation and their personal commitment to accelerate the development life cycle. To learn more about PRA International, please visit www.PRAinternational.com, email Endpoints@PRAintl.com or call our Global Headquarters at +1 (919) 786-8200.