The board of directors of Shire, a global specialty biopharmaceutical company based in Ireland, has announced the retirement in 2013 of chief executive Angus Russell after 13 years with the company and 32 years in the pharmaceutical industry.

"I've enjoyed every day of my time at Shire,” said Russell. “I'm very pleased to have been a part of the growth story of this excellent company and to be leaving it in such great shape for further success.  I'm delighted to hand the leadership over to such a talented and visionary individual.  I'll continue to watch the progress of this outstanding organization in the years ahead."

Flemming Ornskov MD, MBA, MPH, will join the Shire board as chief executive designate on January 2, 2013, following completion of his notice period with his current employer. Flemming joins from Bayer where, as CMO and global head of strategic marketing for general and specialty medicine, he oversees the full pharmaceutical product portfolio, with sales in excess of $12 billion from global marketing units in Europe, China and the U.S.

There will then be a handover period of several months to ensure a smooth transition before Flemming becomes CEO on April 30, 2013—the date of Shire’s annual general meeting. As chief executive designate, Flemming will spend time with all three Shire businesses, with a special focus initially on the specialty pharmaceuticals business. He will be based at Shire's offices outside Philadelphia, Penn., during this period.

"Flemming is highly qualified for this role and brings diverse and deep expertise to Shire,” said Matthew Emmens, chairman of Shire. “His pharmaceutical experience spans start-ups, equity and venture capital, as well as mature global multi-nationals, in marketing roles and increasingly senior leadership positions. He's lived and worked in both Europe and the United States and had responsibility for businesses across Asia. As an MD with most of his training in pediatrics, he brings important insight and understanding of patients needs. This unique combination of skills and experience will bring an innovative outlook to Shire and help steer the company toward continued growth."

Shire began its search for a new president for its specialty pharmaceuticals business in April and in conducting this, sought a candidate who would, in due course, be a potential successor for the CEO. A thorough process was led by Emmens and the Shire Nomination Committee.  Support was provided by an external search firm.