Hospira

Christopher B. Begley plans to retire from his role as chief executive officer of Hospira Inc. Mr. Begley will remain until his successor is named. He will continue to serve as executive chairman of the board. Also, Terrence C. Kearney, chief operating officer, will retire by the end of 2010.

During Mr. Begley’s tenure, he oversaw Hospira’s 2004 spin-off from Abbott Laboratories and doubled the company’s geographic footprint and revenue outside the U.S. He remarked, “Over the last six years we have transformed this company from one of declining sales and margins to strong growth and profitability, and the time is right for a new CEO to lead Hospira on its patient-focused journey to sustainable top-tier financial performance. I look forward to remaining an active contributor to Hospira, confident the company is stronger and better positioned for success now than at any point in our rich history.”

The company’s board of directors has engaged Egon Zehnder, an internationally recognized executive search leader, to identify Mr. Begley’s successor.

Mr. Kearney has been with the company since its launch, first as chief financial officer, and later as chief operating officer. James H. Hardy, currently corporate vice president, Supply Chain, will be named to the new role of senior vice president, Operations, effective Dec. 31, 2010.

Irving W. Bailey, II, Hospira’s lead independent director, said, “As part of the board’s disciplined succession-planning process, we have anticipated and planned for these transitions. Chris and Terry have made significant contributions to the growth of the company and the creation of shareholder value over the past six years, and they have established a strong organization to build upon Hospira’s success.”