ICON Announces CFO Transition

ICON, a globally renowned healthcare intelligence and clinical research organization, has announced that its Chief Financial Officer, Brendan Brennan, will be stepping down from his position in the fourth quarter of this year to pursue an opportunity outside the CRO industry. Brennan, who has been in the role since 2012, will continue to serve as CFO during the transition period to ensure a seamless handover to the incoming CFO. ICON has already initiated a search process to identify Brennan’s successor.

Steve Cutler, CEO of ICON, expressed gratitude for Brennan’s significant contributions to the company over his 18-year tenure, particularly highlighting his role as CFO for the past 12 years. Cutler acknowledged Brennan’s effective leadership in driving the company’s growth and wished him success in his future endeavors. The search for a new CFO is underway, and updates will be provided as the process unfolds, with Brennan continuing to lead the finance team in the interim.

In response, Brennan reflected on his time with ICON, describing it as a privilege and a pleasure to have served as CFO for the past 12 years. He emphasized the company’s market-leading position, successful integration of PRA Health Sciences, and his belief in its future growth prospects. Brennan expressed readiness for a new challenge in a different industry while expressing pride and gratitude for his lengthy association with ICON.

The company also reaffirmed its previously announced full-year 2024 guidance, expecting revenue to range between $8,400 million and $8,800 million, with adjusted earnings per share projected to be between $14.50 and $15.30. These estimates represent year-over-year increases and exclude certain expenses such as amortization and restructuring costs. ICON will release its first-quarter 2024 results on April 24 and host an earnings conference call on April 25.

ICON plc is a leading healthcare intelligence and clinical research organization headquartered in Dublin, Ireland. With operations spanning across 106 locations in 53 countries and employing approximately 41,100 individuals as of December 31, 2023, ICON specializes in advancing clinical research and providing outsourced services to various healthcare sectors, including pharmaceuticals, biotechnology, and medical devices. For more information about ICON, visit www.iconplc.com.

This press release contains forward-looking statements regarding financial guidance, based on current expectations and economic conditions. Actual results may differ from these statements due to various factors, including market conditions and business decisions. Investors are cautioned against placing undue reliance on forward-looking statements, and ICON undertakes no obligation to update these statements. Additional information about risks and uncertainties can be found in SEC reports filed by ICON.

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