Celgene Corp. (CELG) said Thursday that its current President and Chief Operating Officer, Robert Hugin, will be appointed as Chief Executive Officer.
Sol Barer, currently Chief Executive Officer, will be named as Executive Chairman of the Board of Directors through December 31, 2010.
Barer has served as Chief Executive Officer of Celgene since May 1, 2006. Immediately prior, Barer served as President, an office he held since October 1993, and as Chief Operating Officer, an office he held since March 1994. Barer has served as the Chairman of the Board of Directors since January 2, 2007 and, since March 1994, has served as a director. He is also the Chairman of the Executive Committee of the Board of Directors.
Effective January 1, 2011, Barer will be named Non-Executive Chairman and will continue with Celgene in a consulting capacity maintaining his engagement and guidance in strategic and scientific strategies.
Hugin has been a member of the Celgene leadership team for eleven years. He has served as Chief Operating Officer and President since May 1, 2006. He joined Celgene as Senior Vice President and Chief Financial Officer in June 1999 and served in that capacity until May 1, 2006. Hugin has served as a director of Celgene since December 2001.
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