Thursday, Mar 20, 1997
South San Francisco, Calif. -- March 20, 1997 --Genentech, Inc. (NYSE: GNE) today announced the appointment of Bill Young to Chief Operating Officer (COO). Young, 52, previously served as an Executive Vice President, and has been with Genentech for seventeen years. Also today Genentech announced the promotion of Lou Lavigne to Executive Vice President. Lavigne, 48, Genentech's Chief Financial Officer, had previously served as Senior Vice President.
"Both appointments recognize the contributions to our success made by these individuals," said Art Levinson, Ph.D., President and Chief Executive Officer of Genentech. "Bill's promotion to the COO position reflects his unique ability to bring together all aspects of product development, approval, and manufacturing, and now adds responsibility for both medical affairs and business development," said Levinson.
Young, a member of the National Academy of Engineering, holds his bachelor's degree in chemical engineering from Purdue University, and his master's of business administration from Indiana University.
"Lou Lavigne has done a tremendous job as Genentech's Chief Financial Officer, and the promotion to Executive Vice President recognizes both his performance and his increasing importance to the overall operations of the company," said Levinson. As EVP, Lavigne will oversee corporate communications, treasury, controller's, information systems, insurance, investor relations, tax, planning, and purchasing.
Lavigne joined Genentech in 1982, and holds his bachelor's of science degree in business administration from Babson College, and a master's in business administration from Temple University.
Genentech, Inc. is a leading biotechnology company that discovers, develops, manufactures and markets human pharmaceuticals for significant unmet medical needs. The company is headquartered in South San Francisco, California, and is traded on the New York and Pacific Stock Exchanges under the symbol GNE.
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