PPD

Linda Baddour, chief financial and accounting officer of PPD, Inc., is resigning from her position effective May 31, 2007. Ms. Baddour will provide consulting services to the company for the next six months to assist with the transition of her responsibilities to other members of senior management. The company is looking for a new CFO.

As part of the transition, the company has promoted Peter Wilkinson to vice president of finance and chief accounting officer and Brian Tuttle to vice president of finance and corporate controller. Mr. Wilkinson, CPA, joined the company as executive director of finance and internal auditor in 2003.

Mr. Wilkinson has served an integral role in the company’s implementation of the requirements of the Sarbanes-Oxley Act and compliance with the U.S. SEC requirements and Generally Accepted Accounting Principles (GAAP). Mr. Wilkinson also assisted in structuring the financial aspects of the company’s recent compound partnering collaborations. Mr. Wilkinson reports to the finance and audit committee of the board of directors of PPD regarding internal audit matters. Prior to joining the company, he served as a senior manager with Deloitte & Touche LLP for 10 years.

Mr. Tuttle, CPA, served as corporate controller since 1999, and joined the company as corporate tax manager in 1998. He coordinates external audits of financial statements and is responsible for management of various company and financial functions, including disbursement services, tax matters, financial systems, treasury and the travel department. He also negotiates the annual indirect rate agreements on all federally funded contracts. Prior to joining the company, Mr. Tuttle worked with Coopers & Lybrand LLP for eight years, including three years as the tax manager on PPD’s account.

“We extend our appreciation to Ms. Baddour for her service to PPD throughout the last 11 years,” said Fred Eshelman, chief executive officer of PPD. “We also congratulate Mr. Wilkinson and Mr. Tuttle, who have demonstrated leadership and acumen through their significant contributions to our financial and business operations. We look forward to continuing to work with them in advancing the growth and performance of PPD.

“In addition,” Dr. Eshelman continued, “I’d like to take this opportunity to say that we are pleased with the progress of our ongoing chief operating officer search, and hope to be in a position to make an announcement on that front soon.”