West CEO to Retire

Donald E. Morel, Jr., Ph.D., chief executive officer and chairman of the board, plans to retire from West Pharmaceutical Services, Inc. The board of directors has retained Russell Reynolds Associates to launch a comprehensive search to identify Dr. Morel’s successor.
 
Dr. Morel said, “It has been a privilege to lead West these past 12 years.  My time at West has been extremely rewarding on both a personal and professional level. When I step down next May, I will sincerely miss my West colleagues around the world that have worked so diligently to contribute to our Company’s success. With our Company in a very strong financial position and poised for a bright future, the time is right for me to step back, focus on my family and pursue my philanthropic goals.”
 
Dr. Morel continued, “I am confident that the Board of Directors will identify an outstanding candidate to lead West into the next stage of its growth.  Until that time, I will continue to work with the West team to deliver value to our customers and with the Board to make the transition to new leadership a seamless process.”
 
Patrick J. Zenner, West’s chairman, Independent Directors, said, “Don has been a strong and effective leader since joining West in 1992, rising to become CEO in 2002 and chairman in 2003. During his leadership, revenues more than tripled with the launch of many innovative products, and the stock price increased more than sixfold. Don’s vision has positioned the Company for a bright future with a broad range of new product opportunities combined with a very strong financial position. We are grateful for his hard work and look forward to his continuing contribution as we conduct the search for his successor.”
 
Mr. Zenner continued, “Succession planning has always been a top priority for our Board of Directors. We have confidence in Don and his current management team, the strategy we have crafted together and in our ability to conduct a thorough and careful search to identify the right person who will continue to drive growth and shareholder-value creation well into the future.”