Jonathan W. Ayers Elected Chairman and CEO
WESTBROOK, Maine, January 24, 2002IDEXX Laboratories, Inc. (NASDAQ: IDXX), today announced that Jonathan W. Ayers has been elected Chairman and Chief Executive Officer, succeeding David Shaw. Mr. Ayers most recently was President of Carrier Corporation, a division of United Technologies, Inc. Mr. Shaw, IDEXX's founder, retired as Chief Executive Officer in 1999 but later returned to that position to provide interim leadership and to establish a leadership succession plan.
According to Mr. Shaw, "IDEXX is very fortunate to have recruited Jon Ayers to serve as my successor as Chairman and Chief Executive Officer of the Company. Jon has had an outstanding career in industry, investment banking and strategy consulting, working for United Technologies, Morgan Stanley and Bain. His combination of operating experience and strategic capabilities are a great match for IDEXX, as we seek to strengthen our business leadership positions, further expand the scope of the business and deliver continued strong operating results. While I have elected not to continue as a member of the IDEXX Board of Directors, I remain a significant shareholder and will continue to assist Jon and IDEXX in a number of ways."
"Under Dave's leadership, IDEXX has become a unique and successful company with outstanding technology and market-leading franchises," said Mr. Ayers. "I am excited about joining the IDEXX team as the Company pursues a variety of exceptional growth opportunities. I want to thank the Board of Directors for its confidence in my ability to lead IDEXX, and I am grateful that Dave has agreed to continue to provide his counsel and advice. I know that he will be missed, but not be forgotten."
IDEXX Laboratories, Inc. (www.idexx.com) is a world leader in providing diagnostic, detection and information systems for veterinary, dairy and water testing applications. The Company's largest business is focused on animal health, combining biotechnology and information technology to create new opportunities and solutions for today's veterinary industry. Its veterinary business includes in-clinic diagnostic products, diagnostic reference laboratories and professional services, computer software and related informatics, and pharmaceuticals. Headquartered in Westbrook, Maine, IDEXX employs more than 2,000 people and offers products to customers in more than 50 countries.
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