West Pharmaceutical Services, Inc. Announces Promotion of Linda R. Altemus To Vice President, Finance and Administration
LIONVILLE, Pa., May 11 /PRNewswire/ -- West Pharmaceutical Services, Inc. (NYSE: WST) today announced the promotion of Linda R. Altemus, 49, to the position of Vice President, Finance and Administration, effective June 30, 2001. In her new role, Ms. Altemus will oversee the Company's financial and accounting activities, including financial reporting, treasury and taxation, as well as information systems.
Ms. Altemus, who joined the Company in 1997, has been head of the Company's information-management systems group. In this position she has taken a lead role in upgrading the Company's information technology and developing and implementing the Company's e-business strategy. Before coming to West Pharmaceutical Services, Ms. Altemus held a variety of accounting and financial management positions, including Chief Financial Officer of the Materials Division of Cabot Corporation, a global specialty chemicals company.
William G. Little, Chairman and Chief Executive Officer, commented, "We are pleased to announce Linda's well-deserved promotion. Her expertise in financial management and technology will be invaluable as we move forward with our strategy to increase operating efficiencies through the integration of our finance and management information functions."
The Company also announced the promotion of Michael A. Anderson to Vice President and Treasurer. In this position, he will have direct responsibility for global treasury, asset management and tax. Mr. Anderson joined the Company in 1992 and has served in several capacities, including Director of Taxes, Vice President, Business Development and Vice President, Finance and Administration of the Company's Drug Delivery Systems Group. Prior to joining West Pharmaceutical Services, Mr. Anderson spent 12 years as a certified public accountant with Coopers & Lybrand where he progressed to Senior Manager in the Tax Services Group.
Ms. Altemus and Mr. Anderson will replace Anna Mae Papso and Stephen M. Heumann, respectively. Ms. Papso and Mr. Heumann have chosen to take an early retirement as part of the Company's previously announced reorganization initiatives. Mr. Heumann's duties as principal investor-relations contact within the Company will be assumed by John R. Gailey III, the Company's Secretary and General Counsel.
In addition, as part of this reorganization effort, Lawrence P. Higgins, Vice President, Operations, will also take early retirement, and Anthony A. Sinkula, Vice President and Chief Scientific Officer, has decided to leave the Company when his contract expires in early July.
West Pharmaceutical Services supports global pharmaceutical and healthcare markets with products and services that enhance the effectiveness drug delivery and product dispensing. West's technologies include drug formulation research and development, clinical research and laboratory services and the design, development and manufacture of components and systems for dispensing and delivering pharmaceutical, healthcare and consumer products. For more information, visit the West Pharmaceutical Services website at http://www.westpharma.com.
Certain statements contained in this Press Release that are not historical are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "estimate", "expect", "intend", "believe" and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties. Many factors could cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including but not limited to (1) sales demand, (2) the timing and success of customers' projects, (3) competitive pressures, (4) the strength or weakness of the U.S. dollars, (5) inflation and (6) the cost of raw materials. The Company does not intend to update these forward-looking statements.
For additional information regarding these and other risks and uncertainties associated with the Company's business, reference is made to the Company's reports filed from time to time with the Securities and Exchange Commission. SOURCE West Pharmaceutical Services, Inc.
CONTACT: John R. Gailey III, Secretary and General Counsel of West Pharmaceutical Services, Inc., 610-594-3319; Investors - Theresa Vogt or Lanie Fladell, or Press - Dan Budwick, all of Morgen-Walke Associates, 212-850-5600, for West Pharmaceutical Services, Inc./