Regeneron Announces Retirement of Board Chair, Dr. P. Roy Vagelos, Accomplished Physician-Businessman and Industry Luminary
On April 17, 2023, Regeneron Pharmaceuticals (NASDAQ: REGN) announced significant leadership changes. P. Roy Vagelos, M.D., the Chair of the Board since 1995, will retire and not seek reelection at the 2023 Annual Meeting on June 9. Following his departure, Leonard S. Schleifer, M.D., Ph.D., and George D. Yancopoulos, M.D., Ph.D., will serve as Co-Chairs of the Board while maintaining their executive roles. Additionally, Christine A. Poon will become the Lead Independent Director. Dr. Vagelos expressed pride in Regeneron's transformation into a leading biopharmaceutical company, confident in the new leadership's ability to enhance shareholder value.
- Transitioning to Co-Chairs may provide continuity and stability in leadership.
- Dr. Vagelos leaves a legacy of growth as Chair, which can positively influence investor confidence.
- None.
Dr. Leonard S. Schleifer and Dr. George D. Yancopoulos to become Co-Chairs of the Board and Christine A. Poon to be named Lead Independent Director
TARRYTOWN, N.Y., April 17, 2023 (GLOBE NEWSWIRE) -- Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) today announced that P. Roy Vagelos, M.D., will retire from his role as Chair of the Company’s Board of Directors and will not stand for reelection at the Company’s 2023 Annual Meeting of Shareholders. Dr. Vagelos has served as Chair since January 1995 and will complete his current term through the conclusion of the Annual Meeting on June 9, 2023. Effective upon the conclusion of that meeting, the Board plans to appoint Leonard S. Schleifer, M.D., Ph.D., and George D. Yancopoulos, M.D., Ph.D., as Co-Chairs of the Board, in addition to their roles as President and Chief Executive Officer and President and Chief Scientific Officer, respectively. The Board also plans to appoint current director Christine A. Poon as the Lead Independent Director of the Board. Dr. Schleifer served as Chair before Dr. Vagelos joined the Company.
“I have had the privilege of serving as Chair for nearly three decades and watched with pride as Regeneron has been transformed from a small biotechnology company with big ideas into a successful research-based biopharmaceutical company that improves the lives of many patients,” said P. Roy Vagelos, M.D. “I am confident that the Company, under the leadership of Len, George and the other esteemed members of the Board, will continue to bring forward important medicines for patients in need and deliver even more value to shareholders and society.”
Dr. Vagelos is the former President, Chief Executive Officer, and Chair of the Board of Merck & Co., Inc., and is a member of the National Academy of Sciences, the National Academy of Medicine and the American Philosophical Society. Dr. Vagelos earned his Bachelor of Science degree in chemistry from the College of Arts and Sciences at the University of Pennsylvania and attended medical school at the Columbia University School of Medicine (now the Columbia University Vagelos College of Physicians & Surgeons).
“During Roy’s career, he has not only performed at the highest level imaginable, he has raised up all who have had the privilege of working with him,” said Leonard S. Schleifer, M.D., Ph.D., Co-Founder, President and Chief Executive Officer of Regeneron. “He provided invaluable guidance as we have built Regeneron into what it is today, and he continues to inspire us as we work to turn world-class science into medicines that improve the lives of people around the globe.”
“P. Roy Vagelos has served as my role model since the day in 1975 when my father showed me an article in the Greek newspaper about his similar background and incredible achievements at Merck,” said George D. Yancopoulos, M.D., Ph.D., Co-Founder, President and Chief Scientific Officer of Regeneron. “Since becoming our Chair in 1995, Roy has remained my hero and role model. We will continue to strive to live up to the standard Roy has set of using science to change the practice of medicine and improve lives.”
“It has been an honor to serve alongside Roy,” said Christine A. Poon, current Regeneron Board member and former vice chair, worldwide chair of pharmaceuticals, member of the executive committee and director at Johnson & Johnson. “The Board remains focused on fulfilling our duties to advance Regeneron’s mission and create long-term sustainable growth for shareholders, patients and our many other stakeholders.”
About Regeneron
Regeneron (NASDAQ: REGN) is a leading biotechnology company that invents, develops and commercializes life-transforming medicines for people with serious diseases.
For more information, please visit www.Regeneron.com or follow @Regeneron on Twitter.
| Media Contact: Alexandra Bowie Tel: +1 914-847-3407 alexandra.bowie@regeneron.com | Investor Contact: Mark Hudson Tel: +1 914-847-3482 mark.hudson@regeneron.com |
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