25-Year Amgen Veteran Helped Build World-Class Biologics
Manufacturing Operations
CAMBRIDGE, Mass.--(BUSINESS WIRE)--Genzyme
Corporation (NASDAQ: GENZ) today announced that the Nominating and
Corporate Governance Committee of its board of directors has nominated
Dennis M. Fenton, Ph.D., for election to the board. Mr. Fenton was
executive vice president of operations at Amgen when he retired from the
company in 2008. The nomination fulfills the commitment made by Genzyme
as part of the agreement announced in April with Relational Investors,
LLC to nominate an independent director recommended by Relational with
substantial expertise in biopharmaceutical manufacturing and operations.
“Dennis spent his entire career
distinguishing himself in the very areas in which Genzyme faces its most
difficult challenges. I am confident his fresh insights wiil contribute
enormously to the board’s deliberations.”
Mr. Fenton, 58, is a highly regarded leader in manufacturing and
established much of the biologics operating protocol that is standard
practice in the industry today. He joined Amgen during its first year of
operation and led virtually every functional area of the company during
his 25-year tenure. His broad experience includes executive leadership
roles in operations, manufacturing, engineering, process development,
quality, sales and marketing, research, and information management.
At Amgen, Mr. Fenton played a key role in the company’s growth from a
small start-up to a leading global biotechnology company with one of the
most reliable, efficient and skilled manufacturing operations in the
world. He coordinated the design, construction and expansion of
manufacturing facilities for Epogen® (epoetin alfa) and
Neupogen® (filgrastim), two of the premier products in the
biotechnology industry.
“We are excited by the prospect of having Dennis Fenton join our board
of directors and commend Relational for its prompt and thoughtful
recommendation,” said Henri A. Termeer, Genzyme’s chairman and chief
executive officer. “Dennis will bring to our board the precise type of
expertise that we need right now as we work to transform our
manufacturing operations. We believe his perspective and experience will
be invaluable to Genzyme.”
"I look forward to working with Dennis Fenton to spur on the major
change underway at Genzyme,” commented Genzyme board member and
Relational principal Ralph Whitworth. “Dennis spent his entire career
distinguishing himself in the very areas in which Genzyme faces its most
difficult challenges. I am confident his fresh insights wiil contribute
enormously to the board’s deliberations.”
Genzyme’s board of directors currently has 10 members, all of whom are
standing for re-election at the upcoming annual meeting of shareholders
on June 16. The company anticipates that the board will vote to expand
to 11 members and elect Mr. Fenton to fill the new seat after the annual
meeting.
About Genzyme
One of the world's leading biotechnology companies, Genzyme is dedicated
to making a major positive impact on the lives of people with serious
diseases. Since 1981, the company has grown from a small start-up to a
diversified enterprise with more than 12,000 employees in locations
spanning the globe and 2009 revenues of $4.5 billion. In 2010, Genzyme
was named to the Fortune 500.
With many established products and services helping patients in
approximately 100 countries, Genzyme is a leader in the effort to
develop and apply the most advanced technologies in the life sciences.
The company's products and services are focused on rare inherited
disorders, kidney disease, orthopaedics, cancer, transplant and immune
disease. Genzyme's commitment to innovation continues today with a
substantial development program focused on these fields, as well as
cardiovascular disease, neurodegenerative diseases, and other areas of
unmet medical need.
Learn more about Genzyme's progress moving forward and the people
leading the changes by visiting www.GenzymeTransformation.com.
Important Information
On April 26, 2010, Genzyme filed a definitive proxy statement with the
SEC in connection with the company’s 2010 annual meeting of
shareholders. Genzyme shareholders are strongly advised to read
carefully the company's definitive proxy statement and other proxy
materials before making any voting or investment decision because the
definitive proxy statement and other proxy materials contain important
information. The company’s definitive proxy statement and any other
reports filed by the company with the SEC can be obtained free of charge
at the SEC’s web site at www.sec.gov
or from Genzyme at www.genzyme.com.
Copies of the company’s definitive proxy statement and other proxy
materials are available for free by writing to Genzyme Corporation, 500
Kendall Street, Cambridge, MA 02142. In addition, copies of the proxy
materials may be requested from our proxy solicitor, Innisfree M&A
Incorporated, 501 Madison Avenue, 20th Floor, New York, NY 10022, toll
free at: (888) 750-5835.
Genzyme’s press releases and other company information are available at www.genzyme.com
and by calling Genzyme’s investor information line at 1-800-905-4369
within the United States or 1-678-999-4572 outside the United States.
Genzyme® is a registered trademark of Genzyme Corp. Epogen®
and Neupogen® are registered trademarks of Amgen Inc. All
rights reserved.