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Executive Summary

CHIRON's NEW CHIEF OPERATING OFFICER, DUPONT's GREG LAWLESS, has been director of DuPont's Specialty Diagnostics Division for the past four years. Lawless, 49, will hold a new senior management position at Chiron. He will be responsible for "all Chiron operations, including project management of products in development, regulatory affairs and manufacturing," Chiron said in a March 2 release. His appointment is effective immediately. Edward Penhoet, Chiron's president and CEO, becomes vice chairman and will continue as chief executive officer, the firm said. Penhoet "will be responsible for managing Chiron's research and development efforts, and relations with the financial community," the company explained. William Rutter remains chairman. Penhoet and Rutter have headed the company since its founding in 1981. Lawless, a 20-year veteran of DuPont, "will provide leadership and perspective for the next phase of Chiron's transition to a larger, more fully integrated pharmaceutical company," Chiron said. The firm recently received a $ 20 mil. equity investment from Ciba-Geigy in an expansion of the collaboration between the two firms in vaccine research. Chiron is also working with Warner-Lambert on developing anti-cancer and central nervous system therapeutics. The company has a development agreement with Johnson & Johnson for wound healing agents. While at DuPont, Lawless was an entrepreneur in the large corporate structure. He oversaw the development of the firm's diagnostics division from a start-up to a business with sales of over $ 60 mil. From 1981-1985, Lawless directed the development of DuPont's corporate healthcare strategy. He also has direct experience in the drug business; he was exec VP of DuPont's Endo Labs subsidiary from 1979-1981.

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