CFOs in Demand at CROs
On April 30 when PPD announced that Linda Baddour, chief financial and accounting officer, was resigning effective May 31, the contract research organization (CRO) added that Baddour would be providing consulting services to the company for the next six months to assist with the transition of her responsibilities to other members of senior management.
Well, that six months of consulting won’t be happening.
Just a few days after her resignation became effective, Baddour took a new job at competitor, PRA. That CRO named Baddour as executive vice president and chief financial officer. Baddour, who worked at PPD for 11 years, replaced Matt Bond who resigned to pursue other opportunities.
"We are very excited to have Linda join us," said Terrance Bieker, chief executive officer of PRA. "She has the financial acumen and the proven track record we need to take PRA to the next level. This includes experience managing the financial systems of a fast-growing global firm, evaluating and integrating acquisitions and working well with investors. She has a background in our industry, having worked her way up to the CFO position for a leading, global contract research organization. We are looking forward to the perspective Linda offers and the contributions she will make.”
In this era of heightened financial regulations, CFOs are certainly in demand. Bond—Matt Bond—should have plenty of opportunities to pick from.
The chief financial officer at AstraZeneca showed there are plenty of options. On Wednesday, AstraZeneca said its CFO Jon Symonds plans to leave the company at the end of July to take a position with investment bank Goldman Sachs.
Symonds was reportedly passed over for the top spot at AstraZeneca and was expected to leave.