RESEARCH TRIANGLE PARK, N.C.--(BUSINESS WIRE)--Quintiles Transnational Holdings Inc. (“Quintiles” or the “Company”) (NYSE: Q) announced today that its Board and principal shareholders have reached agreement on a governance plan to transition the Company’s Board of Directors and its committees to comply with NYSE criteria as a non-controlled company.
Quintiles’ Stockholders Agreement has been amended, calling for the Quintiles Board to be set at nine members, comprised of a majority of independent directors by November 2015. In the interim, the Board size will be increased to 13 to make room for two additional independent directors, the first of whom is Dr. John Leonard, an experienced pharmaceutical development executive, who was appointed to the Board on February 5, 2015. Commencing in November, the Board’s nine members will include the chief executive officer, Dr. Dennis Gillings, CBE, one representative each from Bain Capital and TPG and five additional independent directors.
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Quintiles’ Stockholders Agreement has been amended, calling for the Quintiles Board to be set at nine members, comprised of a majority of independent directors by November 2015. In the interim, the Board size will be increased to 13 to make room for two additional independent directors, the first of whom is Dr. John Leonard, an experienced pharmaceutical development executive, who was appointed to the Board on February 5, 2015. Commencing in November, the Board’s nine members will include the chief executive officer, Dr. Dennis Gillings, CBE, one representative each from Bain Capital and TPG and five additional independent directors.
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