MDS Appoints Two New Directors
22 Aprile 2008 - 12:01AM
PR Newswire (US)
Gregory Spivy and William Dempsey join MDS Board TORONTO, April 21
/PRNewswire-FirstCall/ -- MDS Inc. (TSX: MDS; NYSE: MDZ), a leading
provider of products and services to the global life sciences
markets, today announced that Mr. Gregory Spivy, Partner at
ValueAct Capital, and Mr. William Dempsey, former Executive
Vice-President of Abbott Laboratories, have been appointed to its
Board of Directors. "We welcome both Greg and Bill and look forward
to benefiting from the breadth of experience they will bring to our
Board," said John Mayberry, Chairman, MDS Board of Directors. "The
decision of both individuals to join the Board follows months of
discussion and is consistent with our objective to strengthen and
broaden the Board's expertise." Mr. Mayberry continued, "Greg adds
the perspective of a major shareholder with financial markets
expertise, along with the knowledge and experience of having served
on the boards of other publicly traded companies. Bill is an
industry veteran and possesses the operational skills, knowledge
and perspective of our customers that come from more than 25 years
of pharmaceutical industry experience. We believe that the
capabilities of both individuals will be additive and prove
valuable to the Board as we continue to execute on our strategy to
deliver value to all of our shareholders." "MDS has built a strong
position in the global life science markets and has developed a
solid foundation upon which to generate sustainable and profitable
growth," stated Mr. Spivy. "I believe there is growth potential in
the MDS markets and I look forward to working actively with my
fellow directors and MDS's management team to capitalize on these
opportunities." "I am pleased to be joining the MDS Board of
Directors," stated Mr. Dempsey. "This is an excellent company with
a history of innovation, quality products and services, and a
leadership team driving performance." Mr. Spivy is a Partner at
ValueAct Capital, a San Francisco-based investment partnership with
approximately $6 billion in assets under management. ValueAct
Capital is currently MDS's largest shareholder, owning
approximately 19% of the Company's outstanding Common shares. Mr.
Spivy currently serves on the board of directors of Adesa Holdings,
Inc. and Seitel Holdings, Inc., and serves as Chairman of the Board
of MSD Performance, Inc. He is also a former director of PRA
International, MSC.Software Corporation and Kerr Group, Inc. As a
member of the MDS Board of Directors, Mr. Spivy will serve on the
Corporate Governance and Nominating Committee, and the Human
Resources & Compensation Committee. Mr. Dempsey has spent
nearly his entire career with Abbott Laboratories, serving most
recently as Executive Vice-President of the Pharmaceutical Products
Group. In his more than 25 years of experience with Abbott, Mr.
Dempsey served in a variety of roles across their pharmaceuticals,
nutritionals, medical devices and hospital businesses. Mr. Dempsey
will serve on the Audit Committee and the Environment, Health and
Safety Committee. In connection with Mr. Spivy's appointment to the
Board, MDS entered into an agreement with ValueAct Capital that is
filed with the Canadian and US Securities regulators, and will be
available through the SEDAR and EDGAR websites. About MDS MDS is a
global life sciences company that provides market-leading products
and services that our customers need for the development of drugs
and the diagnosis and treatment of disease. We are a leading global
provider of pharmaceutical contract research, medical isotopes for
molecular imaging, radiotherapeutics, and analytical instruments.
MDS has more than 5,500 highly skilled people in 29 countries. Find
out more at http://www.mdsinc.com/ or by calling 1-888-MDS-7222, 24
hours a day. About ValueAct Capital ValueAct Capital(R), with
offices in San Francisco and Boston and approximately $6 billion in
investments, seeks to make active strategic-block value investments
in a limited number of companies. The Principals have demonstrated
expertise in sourcing investments in companies they believe to be
fundamentally undervalued, and then working with management and/or
the company's board to implement strategies that generate superior
returns on invested capital. ValueAct Capital concentrates
primarily on acquiring significant ownership stakes in publicly
traded companies, and a select number of control investments,
through both open-market purchases and negotiated transactions.
DATASOURCE: MDS Inc. CONTACT: For Media, Janet Ko, MDS Inc., (416)
213-4167, ; For Investors, Kim Lee, MDS Inc., (416) 675-6777
x32606,
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