Mettler-Toledo International Inc. Announces Changes to Board of Directors
OREANDA-NEWS. February 24, 2016. Mettler-Toledo International Inc. (NYSE: MTD) announced today that Richard Francis will run for election to its Board of Directors at the 2016 Annual Shareholder Meeting in May. The Company also announced that George Milne will retire from the Board since he has reached the mandatory retirement age.
Mr. Francis is Division Head and CEO of Sandoz, the Generics Division of Novartis (NYSE: NVS). In his current position since mid-2014, he oversees the second largest generics company in the world with annual revenue of more than \\$10 billion. Prior to joining Sandoz, Mr. Francis spent nearly 20 years in various leadership and management roles in the pharmaceutical and biotechnology industries. He has worked in many areas of the life sciences industry as well as in multiple countries.
Robert F. Spoerry, Chairman of the Board, stated, "Richard brings in-depth knowledge of the generics, pharmaceutical and biotechnology industry sectors, which are important market segments for METTLER TOLEDO. Furthermore, his proven leadership and extensive international expertise will provide additional insights for our global organization. We look forward to his successful election and believe he will be a strong addition to the Board of Directors."
Mr. Spoerry added, "I want to sincerely thank George for his very valuable support, leadership and many contributions to the company over the last 16 years. His deep understanding of the pharmaceutical industry and his dedication to METTLER TOLEDO were highly beneficial over his long tenure."
METTLER TOLEDO is a leading global supplier of precision instruments and services. The Company has strong leadership positions in all businesses and believes it holds global number-one market positions in a majority of them. Specifically, METTLER TOLEDO is the largest provider of weighing instruments for use in laboratory, industrial and food retailing applications. The Company is also a leading provider in analytical instruments for use in life science, reaction engineering and real-time analytic systems used in drug and chemical compound development and process analytics instruments used for in-line measurement in production processes. In addition, METTLER TOLEDO is the largest supplier of end-of-line inspection systems used in production and packaging for food, pharmaceutical and other industries. Additional information about METTLER TOLEDO can be found at www.mt.com/investors.
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