|MURRAY HILL, N.J., Feb 13, 2003 (BUSINESS WIRE) -- C. R. Bard, Inc. (NYSE-BCR),
today announced that its Board of Directors has elected Timothy M. Ring to
succeed William H. Longfield as Chairman and Chief Executive Officer, effective
August 8, 2003.
Longfield will continue to serve as Chairman and Chief Executive until his
retirement on August 7, 2003.
Ring, 45, joined the company in 1992 as Vice President, Human Resources. He was
elected Group Vice President, International in 1993 and was promoted to Group
President in 1997. He most recently had responsibility for the company's global
Vascular and Specialty Access businesses.
Prior to joining Bard, Ring spent 10 years with Abbott Laboratories in both
human resources and general management roles. Ring also held management
positions at General Motors Corporation. He holds a B.S. in Industrial and Labor
Relations from Cornell University.
William H. Longfield, chairman and chief executive officer, speaking on behalf
of the Board, stated, "This announcement is consistent with our plan for an
orderly executive transition. Tim Ring is an energetic, enthusiastic and
decisive leader who has played a vital role in our success over the past 10
years. In addition, he has been instrumental in developing and implementing
Bard's current strategic direction and we are delighted that he will now guide
the organization to the full realization of that plan. Tim is the ideal choice
to preserve and extend our company values of Quality, Integrity, Service, and
Chairman and Chief Executive Officer-elect, Timothy M. Ring commented, "I am
honored to be selected for this leadership role. Bard is a great company with
exceptional people. Together we will build on the foundation of consistent
performance and unparalleled integrity that is Bill Longfield's legacy. I could
not be more excited about the opportunities that exist for our customers, our
employees and our shareholders."
In addition, the company announced today that John H. Weiland has been elected
to the position of President and Chief Operating Officer, effective August 8,
Weiland, 47, joined Bard in 1996 as Group Vice President. He was promoted to
Group President in 1997 with most recent oversight for Bard's global Surgical,
Urological, and Endoscopic Technology businesses.
Prior to joining the company, Weiland was Senior Vice President of Dentsply
International. He has served as President and Chief Executive Officer of
Pharmacia Diagnostics and has held management positions at American Hospital
Supply and Baxter Healthcare. Additionally, he has served as a White House
Fellow in the Office of Management and Budget. Weiland received a B.S. in
Biology from DeSales University and an MBA from New York University.
Ring commented further, "I am particularly pleased that my seven year
partnership with John Weiland will continue, with John in this critical role. He
is a seasoned executive, with 25 years of experience in the medical technology
field. His results-oriented management style and his focus on customers will be
a great benefit to Bard as his role expands to direct our entire operation."
C. R. Bard, Inc. (www.crbard.com), headquartered in Murray Hill, New Jersey, is
a leading multinational developer, manufacturer and marketer of health care
products in the fields of vascular, urology, oncology and surgical specialty
This press release contains forward-looking statements, the accuracy of which is
necessarily subject to risks and uncertainties. Please refer to our September
30, 2002 Form 10-Q for a statement with regard to forward-looking statements,
including disclosure of additional factors that could cause actual results to
differ materially from those expressed or implied.
CONTACT: C. R. Bard, Inc., Murray Hill
Todd C. Schermerhorn, 908/277-8139
Holly P. Glass, 703/754-2848
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