8-KLeadership Changes

VERTEX PHARMACEUTICALS INC / MA 8-K Report, Executive Changes (Jul 13, 2010)

Filed July 13, 2010For Securities:VRTX

Summary

This 8-K filing from Vertex Pharmaceuticals Incorporated reports on a significant event within its board of directors. On July 9, 2010, Dr. Wayne J. Riley was elected to the board as a Class I Director, with his term set to expire at the 2011 Annual Meeting of Shareholders. The company has confirmed Dr. Riley meets the independence criteria set by the SEC and Nasdaq.

Key Highlights

  • 1Dr. Wayne J. Riley appointed as a Class I Director to the Board of Directors.
  • 2Dr. Riley's current term as director will conclude at the 2011 Annual Meeting of Shareholders.
  • 3Vertex Pharmaceuticals has determined that Dr. Riley qualifies as an independent director.
  • 4Dr. Riley brings extensive experience from leadership roles in academic medicine, including his current position as President and CEO of Meharry Medical College.
  • 5His background includes significant roles at Baylor College of Medicine and Vanderbilt University Schools of Medicine.
  • 6Dr. Riley also serves on the board of Pinnacle Financial Partners, Inc., indicating experience in corporate governance and audit committees.
  • 7His education includes degrees from Yale University, Tulane University, Morehouse School of Medicine, and Rice University, reflecting a strong academic and business foundation.

Frequently Asked Questions

Dr. Wayne J. Riley has been elected as a Class I Director to the Board of Directors of Vertex Pharmaceuticals. His term will extend until the 2011 Annual Meeting of Shareholders.

Yes, Vertex Pharmaceuticals has confirmed that Dr. Riley meets the independence requirements as defined by the Securities and Exchange Commission and the Nasdaq Stock Market, Inc.

Dr. Riley possesses substantial experience in academic medicine, currently serving as President and CEO of Meharry Medical College. He also has prior leadership roles at Baylor College of Medicine and Vanderbilt University Schools of Medicine. Additionally, he has experience in corporate governance and finance through his board membership at Pinnacle Financial Partners, Inc.

The election of Dr. Wayne J. Riley to the board was effective on July 9, 2010.