Alexion Board Plans To Appoint David Brennan To Succeed Bell As Chairman

(RTTNews) - Alexion Pharmaceuticals Inc. (ALXN) announced, Leonard Bell, Founder of the company, has informed the Board that he will not stand for reelection as a Board member and will retire as Chairman of the Board and as a Director at the end of his term, effective as of the Annual Meeting of Shareholders scheduled for May 10, 2017. The Board announced that it expects to appoint David Brennan, Alexion's Interim CEO and fellow Board member, to succeed Bell as Chairman.

Interim CEO David Brennan stated, "Since joining the Alexion Board of Directors in 2014 and being named Interim CEO late last year, I have gotten to know and deeply respect Lenny for the exceptional foresight and determination he so passionately brings to Alexion. The Board and I look forward to partnering with Alexion's new CEO, once he or she is announced, to continue the company's progress and to execute on our strategy as a leader and innovator in the global biopharmaceutical industry."

Dr. Bell said, "I am incredibly proud of all that we have achieved over the past 25 years since Alexion was founded. I am very much looking forward to spending increasing time with my family, and also exploring new and different opportunities."