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BD announces two future directors for diabetes care spinoff company

July 25, 2021
Life sciences

BD (Becton, Dickinson and Company) (NYSE: BDX), a leading global medical technology company, today announced that David F. Melcher will be non-executive chair of the board of directors, and Claire Pomeroy, MD, MBA, will be a director of the company formed in connection with the previously announced separation of the Diabetes Care business into an independent, publicly traded company (“NewCo”).

Their appointments to the NewCo board of directors will be effective upon completion of the spinoff, which is expected to occur in the first half of calendar year 2022 and is subject to the satisfaction of customary conditions, including final approval from the BD board of directors and the effectiveness of a Form 10 registration statement that will be filed with the SEC. Additional appointments to the NewCo board of directors and executive team are expected to be announced prior to that date.

“Our focus is on setting NewCo on the path to success and growth,” said Tom Polen, chairman, CEO and president of BD. “The selection of David and Claire to the NewCo board of directors will provide significant health care and public company leadership experience for NewCo, which will be critical for the future direction of this standalone business as one of the largest diabetes-focused organizations in the world.”

LTG (Ret.) Melcher, 67, will bring strong executive experience to NewCo, a result of his many years in leadership positions in the defense community and as a former chief executive officer of a NYSE public company. He has extensive experience in spinoffs, having served as the inaugural chief executive at Exelis following its spinoff from ITT. Under his leadership, Exelis later spun off its mission systems business as its own NYSE public company. He also has extensive experience and expertise in the areas of domestic and international business, program management, strategy development, finance and information technology. By the time of the spinoff, he will cease to be a director of BD, where he has served as a director since 2017 after previously serving as a director of C. R. Bard, Inc. from 2014 until its acquisition by BD. Melcher was also the Lead Independent Director of Cubic Corporation, a San-Diego based Transportation and Defense company until it was purchased in May 2021, and is an independent director of the United Services Automobile Association (non-public). He also serves on the Board of Managers for GM Defense, LLC, a subsidiary of GM Corporation. In December 2017, Melcher retired as president and chief executive officer (CEO) of Aerospace Industries Association, a trade association representing major aerospace and defense manufacturers and suppliers, a position he had held since 2015. From 2011 to 2015, Melcher was CEO, president and a director of Exelis Inc., a $5+ billion revenue global aerospace defense, information and technology services company. Prior to that, he was the President of ITT Corporation’s Defense and Information Solutions business. Melcher retired in 2008 as a Lieutenant General after 32 years of distinguished service in the U.S. Army, where he served in the Pentagon as the Army’s G-8 Program Director and the Military Deputy for Budget. He also commanded the Southwest Division of the US Army Corps of Engineers in Dallas, TX, as well as command assignments in several infantry and armored divisions.

Dr. Pomeroy, 66, has broad experience in areas of health care delivery, health system administration, higher education, medical research and public health. She will bring important perspectives on patient care services, global health and health policy to the NewCo board of directors. By the time of the spinoff, she will cease to be a director of BD, where she has served as a director since 2014.

Dr. Pomeroy also serves as president of the Albert and Mary Lasker Foundation, a private foundation that seeks to improve health by accelerating support for medical research through recognition of research excellence, education and advocacy. Previously, she served as Dean and Vice Chancellor of the University of California, Davis (“UC Davis”) School of Medicine from 2005 to 2013. Dr. Pomeroy is a member of the National Academy of Medicine. She also is a director of Haemonetics Corporation, as well as the Sierra Health Foundation, Center for Women in Academic Medicine and Science, iBiology/Science Communication Lab, Science Philanthropy Alliance and Morehouse School of Medicine.

“David and Claire establish a strong foundation for the NewCo board of directors through their many years of experience and insight from the BD board, and I’m particularly excited to tap into David’s background with spinoffs and Claire’s knowledge of the healthcare provider community,” said Devdatt (Dev) Kurdikar, future CEO of NewCo. “As we seek to leverage and honor the legacy of BD while standing up a new, focused Diabetes Care company, their knowledge of the organization as it stands today, and the evolving global med tech landscape in which we compete, will prove invaluable.”

By BD, Press Release

Source: news.bd.com

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