CAMBRIDGE, Mass.--(BUSINESS WIRE)--Genzyme Corporation (NASDAQ: GENZ) today announced the election of Robert J. Bertolini to the company’s board of directors. Mr. Bertolini was executive vice president and chief financial officer at Schering-Plough Corp. until its recent merger with Merck & Co.
Mr. Bertolini had been with Schering-Plough since 2003, where he worked hand-in-hand with the chief executive officer in all aspects of transforming the company’s operations. Joining the organization during a time when it was facing challenges across several areas, he was part of the team that turned the company around and drove strategic decisions that more than doubled its adjusted net sales from $8.6 billion in 2004 to $20.8 billion in 2008.
In addition to this work, Mr. Bertolini built world-class finance and information technology functions and led business development and strategy, overseeing a team of more than 3,000 employees. He had responsibility for key financial areas including tax, accounting and financial asset management, among other areas.
“We are pleased to add Bob Bertolini to our board of directors, and look forward to the significant contributions we know he will make,” said Henri A. Termeer, Genzyme’s chairman and chief executive officer. “Bob brings to our board exceptionally strong industry and financial expertise, having worked with the pharmaceutical and health care industry for more than 25 years. We welcome his experience and perspective as Genzyme continues to grow and evolve.”
Genzyme’s board of directors had eight members prior to Mr. Bertolini’s election. Upon the recommendation of the board’s nominating and governance committee, the board this week voted to expand to nine members, and subsequently elected Mr. Bertolini. Eight members of Genzyme’s board are independent directors.
Prior to joining Schering-Plough, Mr. Bertolini spent 20 years at PriceWaterhouseCoopers, where he held positions of increasing responsibility, ultimately leading the global pharmaceutical industry practice. He obtained extensive experience in audit, financial controls and corporate governance, while also serving as a senior advisor to management on issues including merger and acquisition transactions. He became one of the firm’s experts in working with small and large health care clients on IPOs, licensing, and other strategic issues.
One of the world's leading biotechnology companies, Genzyme is dedicated to making a major positive impact on the lives of people with serious diseases. Since 1981, the company has grown from a small start-up to a diversified enterprise with more than 11,000 employees in locations spanning the globe and 2008 revenues of $4.6 billion.
With many established products and services helping patients in approximately 100 countries, Genzyme is a leader in the effort to develop and apply the most advanced technologies in the life sciences. The company's products and services are focused on rare inherited disorders, kidney disease, orthopaedics, cancer, transplant and immune disease, and diagnostic testing. Genzyme's commitment to innovation continues today with a substantial development program focused on these fields, as well as cardiovascular disease, neurodegenerative diseases, and other areas of unmet medical need.
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Erin Emlock, 617-768-6923
Patrick Flanigan, 617-768-6563