PPD, Inc.

Fredric N. Eshelman, vice chairman and chief executive officer of PPD, Inc., has been named to the newly created position of executive chairman of the board of directors. Ernest Mario, Ph.D., who has served as the non-executive chairman of the board of PPD since 1993, has been appointed lead independent director. PPD also announced that Brigadier General David L. Grange (ret.), a member of PPD’s board of directors since 2003, has been named PPD’s new chief executive officer. General Grange will report to Mr. Eshelman in his new capacity as executive chairman. These appointments will be effective July 1, 2009.

In his new position, Mr. Eshelman will continue to be responsible for providing strategic direction to the company and overseeing the implementation of the company’s strategic and business plans, including the company’s compound partnering business. Working closely with General Grange, he will also focus on key initiatives, strategic outsourcing plans and core aspects of the company’s operations.

General Grange most recently had a decade of service at the McCormick Foundation, first as executive vice president and chief operating officer, and as president and chief executive officer since 2005. The foundation is a nonprofit organization that conducts grant-making programs and other operations, and has $1.2 billion in assets. Prior to joining the foundation in 1999, he had a 30-year career in the U.S. Army, with his final position as commanding general of the First Infantry Division, known as the Big Red One. During his military career, Brig Gen. Grange served as a Ranger, Green Beret, Aviator, Infantryman and a member of Delta Force. While stationed at the Pentagon, he served as the deputy director and director of Army Current Operations and Readiness and Mobilization, and was responsible for coordinating military support within the U.S. in response to natural disasters and for domestic preparedness against acts of terrorism.

“General Grange brings a great combination of global geographical experience and knowledge, demonstrated leadership from his business and military careers, financial management experience and first-hand knowledge of PPD as a member of our board since 2003,” said Mr. Eshelman. “I look forward to working closely with General Grange and his executive management team to chart our course and execute our business plans to drive long-term shareholder value.”

Mr. Eshelman added, “On behalf of the board of directors, I extend our sincere appreciation to Dr. Mario for his outstanding service as our non-executive chairman for the past 16 years. He and I have worked closely together over this period to grow PPD, and I look forward to his continued leadership and counsel as our lead independent director.”