BRIEF — Former Quintiles exec named replacement for retiring Parexel CEO

Jamie Macdonald is to take over as chief executive of one of the world’s leading contract research organizations after the retirement of the company’s current boss.

Josef von Rickenbach, the co-founder of Parexel, has given 35 years of leadership to the firm, but is now stepping down from his CEO duties. He will remain as chairman of the board.

Last year, investment manager Pamplona Capital Management announced a $5.5 billion deal to take the USA-headquartered company private, with Mr von Rickenbach admitting at the time that recent results had shown that the market for biopharmaceutical services was evolving.

In his place will come a Scottish national who oversaw an impressive growth period for INC Research, now known as Syneos Health, for several years as CEO and most recently as vice chairman.

Prior to this time, Mr Macdonald served as INC’s chief operating officer. In addition, he has held several leadership positions in the biopharmaceutical services industry, including senior vice president and head of global project management at Quintiles, a rival CRO that is now known as IQVIA (NYSE: IQV).

Mr Macdonald said: “As a trail blazer in the biopharmaceutical services industry, the company enjoys well-deserved recognition as having the kind of deep therapeutic and functional expertise, global reach and innovative capability to continue its leadership.

“Joe carefully crafted and nurtured an entrepreneurial spirit that is well established, and his role in the development of the industry cannot be overstated. I am humbled to have the opportunity to build on this legacy and look forward to continued growth and excellence for Parexel.”