PRA International announced the resignation of the company’s president and chief executive officer, Patrick Donnelly. He will work as a consultant for 18 months and will receive $2,000 for each day as a consultant. PRA went public, acquired 10 companies and increased its global operations during the past 13 years under Donnelly as CEO.
The company will pay the former executive a severance of $1 million. PRA has hired a global executive recruitment firm to find a permanent replacement for Donnelly. Terrance Bieker was put in place as interim chief executive officer and was appointed to the board of directors. Bieker has served as CEO of BioSource International, Axia Medical and Transfusion Technologies.
“After 13 rewarding years with PRA I have made the decision to leave the company to embrace new challenges and opportunities,” said Donnelly. “It is now time for PRA to be led by a CEO with a more scientific and therapeutic focus.”