COVANCE APPOINTS CHIEF FINANCIAL OFFICER
Board of Directors Elects William E. Klitgaard to Key Executive Post |
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Princeton, New Jersey, September 21, 2000 — Covance Inc. (NYSE:CVD) today announced the promotion of Mr. William E. Klitgaard to Corporate Senior Vice-President and Chief Financial Officer. He was previously the Company's Treasurer and Corporate Vice President, Strategy and Corporate Development.
"Bill's broad experience and deep understanding of Covance's business and financial strategies make him uniquely suited to lead our financial organization," said Chris Kuebler, Covance Chairman and CEO. "His strong relationships within the organization and with the Company's banks and other key members of the financial community add an important dimension to our executive team as we move to improve our liquidity and focus our business portfolio."
Mr. Klitgaard has extensive experience in the areas of corporate treasury management and strategic planning. He joined Covance as Corporate Treasurer in 1996 and was appointed to lead the Company's strategic planning and corporate development activities in 1999. He joined Covance from KENETECH Corporation, a provider of products and services to the electric utility industry, where he served as Corporate Treasurer. Prior to that, he was an executive with Consolidated Freightways, a large transportation company, for more than a decade where he was responsible for the Company's treasury and strategic planning activities.
Mr. Klitgaard holds an undergraduate degree in economics from the University of California at Berkeley, and a MBA from the Massachusetts Institute of Technology — Sloan School of Business.
Covance, with headquarters in Princeton, New Jersey, is one of the world's largest and most comprehensive drug development services companies with 1999 revenues of $829 million, operations currently in 17 countries, and approximately 7,900 employees worldwide. Much more informtaion about Covance can be found throughbout the site, including our products and services, other recent press releases, and SEC filings. |
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