Vertex Announces Departure of Ian Smith, Names Interim CFO
January 23 2019 - 4:05PM
Business Wire
Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX) today
announced that Ian Smith has been terminated as Chief Operating
Officer and interim Chief Financial Officer (CFO) effective
immediately. Mr. Smith’s termination is the result of personal
behavior that violated Vertex’s Code of Conduct and values and is
unrelated to the Company’s financial and business performance. The
Company and the Board made this determination following a prompt
and comprehensive investigation conducted with the assistance of
independent external counsel, WilmerHale.
Paul Silva, Senior Vice President and the Company’s Corporate
Controller and Chief Accounting Officer since 2008, has been
appointed interim CFO, effective immediately, while the Company
conducts a formal search to identify a permanent CFO. During the
last decade, Mr. Silva has held responsibility for global
accounting, tax, treasury and other key areas.
“At Vertex, we are deeply committed to our culture of diversity,
inclusion and respect, and we insist that all of our employees,
regardless of their seniority, live our values and adhere to our
Code of Conduct,” said Jeffrey Leiden, M.D., Ph.D., Chairman,
President and Chief Executive Officer of Vertex. “This decision was
not related to any conduct concerning the company's operations or
finances.”
“Vertex has a strong management team in place, as well as a deep
bench. In 2019 and beyond, I am confident that we will continue to
successfully execute the company’s long-standing strategy to bring
transformative treatments to all people living with cystic fibrosis
(CF) and advance our diverse pipeline of medicines for other
serious diseases,” Leiden continued. “Making a difference in the
lives of patients, their families and their caregivers is our true
north, and our commitment to this ideal is unwavering.”
As previously announced, Vertex will report its fourth quarter
and full year 2018 financial results after the financial markets
close on Tuesday, February 5, 2019.
About VertexVertex is a global biotechnology company that
invests in scientific innovation to create transformative medicines
for people with serious and life-threatening diseases. In addition
to clinical development programs in CF, Vertex has more than a
dozen ongoing research programs focused on the underlying
mechanisms of other serious diseases.
Founded in 1989 in Cambridge, Mass., Vertex's headquarters is
now located in Boston's Innovation District. Today, the company has
research and development sites and commercial offices in the United
States, Europe, Canada, Australia and Latin America. Vertex is
consistently recognized as one of the industry's top places to
work, including being named to Science magazine's Top Employers in
the life sciences ranking for nine years in a row. Vertex recently
was named number five in Forbes Magazine’s List of Best Employers
for Diversity. For additional information and the latest updates
from the company, please visit www.vrtx.com.
(VRTX-GEN)
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Vertex Contacts:Investors:Michael Partridge,
617-341-6108
Media:617-341-6992mediainfo@vrtx.com
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