BURLINGTON, N.C.–(BUSINESS WIRE)–Labcorp, a leading global life sciences company, today announced that Thomas (Tom) Pike will join Labcorp as president and chief executive officer of its Drug Development Clinical Development business unit on Jan. 9, 2023. Until the planned spin-off of the Clinical Development business, which is expected to occur in mid-2023, Mr. Pike will report to Labcorp’s chairman and CEO Adam Schechter. At the time of the spin-off, Mr. Pike will serve as the chief executive officer and chairman of the Board of the independent, publicly listed company. In the coming months, Labcorp will announce the Board of Directors of the new company, including its lead independent director.
“Tom’s global leadership experience and proven record in the contract research organization (CRO), healthcare and services industries make him the ideal person to lead the Clinical Development business in its next chapter,” said Adam Schechter, chairman and CEO of Labcorp. “Tom has the strategic vision and deep operational experience to expand the new company’s market position, accelerate growth and deliver value for customers and stakeholders. I am confident in his ability to build on the Clinical Development business and position it for continued success.”
“Labcorp’s Clinical Development business is a leading global CRO with significant growth opportunities today and in the future, and it is my honor to take the reins as we continue our progress towards becoming an independent company,” said Mr. Pike. “As an independent company with access to Labcorp’s deep health and clinical data set, the Clinical Development business will have increased agility to invest in innovation to better serve customers and advance life-saving therapies. I am excited to begin working closely with the team on developing a long-term growth strategy that will benefit patients, customers, employees and our future shareholders.”
Paul Kirchgraber, M.D., currently CEO of Labcorp’s Drug Development business, has decided to pursue other opportunities outside of the company upon completion of the spin-off. Dr. Kirchgraber will continue with Labcorp as EVP and CEO leading the Early Development, Central Laboratories and Global Oncology businesses, and remain with Labcorp until the completion of the spin-off to assist with a smooth transition.
About Tom Pike
Tom Pike has more than 30 years of industry experience. Most recently, he co-founded, advised and served as a director for several healthcare and technology services companies with a focus on patients and clinical research sites. Prior to that, Mr. Pike served as CEO and board member of Quintiles Transnational Holdings, Inc. (Quintiles), a leading fully integrated biopharmaceutical services company offering clinical, commercial and consulting solutions worldwide. Under Mr. Pike’s leadership, Quintiles was named one of the world’s Most Ethical Companies and Most Admired Companies by Fortune magazine. During his tenure, he also led the launch of Q2 Solutions, a clinical trial laboratory services organization, in a joint-venture transaction. Mr. Pike led Quintiles through a successful IPO, helping it grow into a Fortune 500 company with 36,000 employees worldwide. Mr. Pike retired as vice chairman of the merged Quintiles and IMS.
Prior to Quintiles, Mr. Pike had a distinguished career at Accenture in executive roles, including Chief Risk Officer and Managing Director of the North America Health and Products business areas. Prior to that, he was the global Chief Operating Officer for Accenture’s Resources operating group, and he also served as Accenture’s Chief Strategy Officer and a member of the executive leadership team for Accenture’s IPO in July 2001. Earlier, he was at McKinsey & Company and currently serves on the board of Martin Marietta Materials, Inc. (MLM). Mr. Pike earned his Bachelor of Science in accounting from the University of Delaware.
About Labcorp
Labcorp is a leading global life sciences company that provides vital information to help doctors, hospitals, pharmaceutical companies, researchers, and patients make clear and confident decisions. Through our unparalleled diagnostics and drug development capabilities, we provide insights and accelerate innovations to improve health and improve lives. With over 75,000 employees, we serve clients in more than 100 countries. Labcorp (NYSE: LH) reported revenue of $16 billion in FY2021. Learn more about us at www.Labcorp.com or follow us on LinkedIn and Twitter @Labcorp.
