MEDIMMUNE TO PROMOTE DAVID MOTT TO CHIEF EXECUTIVE OFFICER; WAYNE HOCKMEYER TO
CONTINUE AS CHAIRMAN OF THE BOARD
Gaithersburg, MD, June 6, 2000 -- MedImmune, Inc. (Nasdaq: MEDI) announced
today that, effective at year end, David M. Mott will succeed Wayne T.
Hockmeyer, Ph.D. as Chief Executive Officer. Dr. Hockmeyer, who founded and
has led MedImmune since its beginning in 1988, will remain as Chairman of the
Board.
"David has contributed immensely to the growth and success of MedImmune over the
past eight years and the time has come for him to step into the Chief Executive
role," said Wayne T. Hockmeyer, Ph.D., Chairman and Chief Executive Officer. "I
obviously also remain deeply committed to the future success of the company. I
will remain as Chairman of the Board and will also continue to be responsible
for a variety of activities including working with David on matters of strategic
importance to the company."
Mr. Mott has served as Vice Chairman and Chief Financial Officer since 1998.
Prior to that he served from 1995 - 1998 as President and Chief Operating
Officer. He was elected to the Board of Directors in 1995. From 1994 - 1995, Mr.
Mott acted as Executive Vice President and from 1992 - 1994 as Vice President.
Dr. Hockmeyer added, "David and I share a common commitment to integrity, hard
work and the desire to continue the successful growth of MedImmune in the
future. Moreover, we have great enthusiasm for the biotechnology industry and
the many life saving and important products being developed."
Mr. Melvin D. Booth, MedImmune's President and Chief Operating Officer, will
continue in his current role. Dr. Hockmeyer said, "Mel has done a tremendous
job since he joined us in October 1998, and I am pleased that Dave and Mel will
be teaming up even further to assure continued excellence in all areas of the
business."
"I have enjoyed being part of the tremendous success at MedImmune during the
past eight years and am honored to have the opportunity to lead the future
growth of the company as Chief Executive Officer," said Mr. Mott.
MedImmune, Inc. is a fully integrated biotechnology company focused on
developing and marketing products that address medical needs in areas such as
infectious disease, immune regulation and cancer. Headquartered in Gaithersburg,
Maryland, MedImmune has manufacturing facilities in Frederick, Maryland and
Nijmegen, the Netherlands, and an oncology subsidiary in West Conshohocken,
Pennsylvania.
This announcement may contain, in addition to historical information, certain
forward-looking statements that involve risks and uncertainties. Such statements
reflect management's current views and are based on certain assumptions. Actual
results could differ materially from those currently anticipated as a result of
a number of factors, including risks and uncertainties discussed in the
company's filings with the U.S. Securities and Exchange Commission. MedImmune
cautions that RSV disease occurs primarily during the winter months; the company
believes its operating results will reflect that seasonality for the foreseeable
future. The company is also developing several products for potential future
marketing. There can be no assurance that such development efforts will succeed,
that such products will receive required regulatory clearance or that, even if
such regulatory clearance were received, such products would ultimately achieve
commercial success.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereonto duly authorized.
MEDIMMUNE, INC.
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(Registrant)
June 6, 2000 By:
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David M. Mott, Vice Chairman
and Chief Financial Officer
