Elan announces changes to board of directors

Elan Corporation today announced a number of changes to its board of directors.

Effective from July 1, 2007, Dr Floyd Bloom and Jeff Shames will become new non-executive members.

Dr Alan Gillespie will be retiring from the board after 11 years of service, effective at the upcoming annual general meeting.

Mr William Daniel will also step down from the board but will continue at Elan as a member of executive management and corporate secretary for the company.

Dr Floyd E Bloom, 70, is a neuroscientist and the retired chairman of the Scripps Research Department of Neuropharmacology.

He was the previous editor-in-chief of Science. He also served as president of the American Association for the Advancement of Science (2002 -2003) and was chairman of the board of directors (2003 -2004).

Jeffrey L Shames, 51, is the retired chairman and chief executive officer

of global investment management company MFS Investment Management (MFS) headquartered in Boston, Massachusetts, USA.

“The board enthusiastically welcomes Dr Bloom and Mr Shames,” said Elan chairman, Kyran McLaughlin.

“Their respective backgrounds in neuroscience and biotechnology as well as in global business management and finance will make them valued additions to the overall board.

“We recognise the importance of having a mixture of relevant backgrounds and experience on our board.

“As previously communicated, we will continue to refine the board's composition to achieve an appropriate mix of complimentary industry experience and a balance between non-executive and executive participation that will ensure proper representation and governance on behalf of our shareholders globally.

“I would also like to thank Dr Alan Gillespie and Mr Liam Daniel for their valuable years of service to the company as board members. Both have contributed in many meaningful ways to our efforts during their many years of dedicated service.”