Cephalon, Inc. announced today that its Board of Directors
has appointed J. Kevin Buchi as Chief Executive Officer and a member of the
company's Board. The Board will address the role of company Chairman in the
future. William P. Egan will continue to serve as Cephalon's independent
Presiding Director.
"Kevin is an experienced pharmaceutical executive who
has been involved in every aspect of running our business," said Mr. Egan.
"Over the course of many years, Kevin worked closely
with Frank Baldino, Jr., to create the company that we know today, and he has
the passion, leadership skills, organizational abilities and unwavering commitment
to patients that are critical to ensuring Cephalon's continued growth and
success. He is the clear choice to lead our company." Mr. Buchi, who has
been with Cephalon for almost 20 years, assumed day-to-day chief executive
responsibilities for the company in August 2010. He previously served as a
member of the Cephalon executive management team in the roles of Chief
Operating Officer and Chief Financial Officer. Additionally, for the last seven
years, he has led the business development function with responsibility for
mergers, acquisitions and in-licensing of products.
Commenting on his appointment as CEO, Mr. Buchi said,
"I am honored to be named Chief Executive Officer and to continue the work
of Frank Baldino. I had the privilege to work with Frank as we crafted the strategy
for leading and growing Cephalon. I intend to continue the same strategic
course for the company." Mr. Buchi added, "Cephalon is an
extraordinary company with one of the most robust pipelines in the industry
focused on patients suffering from rare disorders and diseases for which there
are no cures. We have expanded our global footprint dramatically in the last
few years. I am confident that our diverse product portfolio, rich pipeline and
global presence position us well for long-term growth and success."