CAMBRIDGE, MASS., August 9 /CNW/ - Biogen Idec (NASDAQ: BIIB) announced
today that Paul Clancy has been appointed Executive Vice President and Chief
Financial Officer, effective August 13, 2007. He reports directly to James C.
Mullen, the company's Chief Executive Officer.
"Paul brings more than 20 years of experience in financial management and
strategic business planning," Mullen said, "In his six years at Biogen Idec,
he has repeatedly proven himself to be an effective and valued leader. With
Paul's help, we will continue to optimize shareholder value by driving our
strategic and operational plans."
Clancy is currently Senior Vice President of Finance, with
responsibilities for leading the Treasury, Tax, Investor Relations and
Business Planning groups. He has held several senior executive positions since
joining the company in 2001, including Vice President of Business Planning,
Portfolio Management and US Marketing. Prior to joining the company, he spent
13 years at PepsiCo, serving in a range of financial and general management
Clancy received his MBA from Columbia Business School in New York City
and his BS in Business Administration at Babson College in Wellesley, MA.
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 in more than 90 countries 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.
This press release contains forward-looking statements in the comments
from James Mullen, our CEO. Forward-looking statements are subject to risks
and uncertainties that could cause actual results to differ materially from
that which we expect. Important factors that could cause our actual results to
differ are described in our most recent Form 10-Q filing with the SEC. These
forward-looking statements speak only as of the date of this press release,
and we do not undertake any obligation to publicly update any forward-looking
statements, whether as a result of new information, future events or
For further information:
For further information: Biogen Idec Media Contact: Naomi Aoki,
617-914-6524 Director, Public Affairs or Biogen Idec Investor Relations
Contact: Elizabeth Woo, 617-679-2812 Vice President, Investor Relations