Icon shuffles executive ranks after strong third quarter

Clinical trials group Icon has appointed chief operating officer Steve Cutler as chief executive. Dr Cutler will succeed Ciaran Murray, who will become chairman of the group, in March 2017.

Dr Cutler joined the company in 2011 and became chief operating officer in January 2014. Prior to joining Icon, Dr Cutler held various senior roles in Kendle, Quintiles and Sandoz (now Novartis).

The executive changes were announced as Icon published third quarter revenue growth of 6.4 per cent year-on-year to $420.2 million. Earnings after tax but before exceptionals were 9.6 per cent ahead of the same period last year at $67.4 million.

The company reported net business wins of $510 million in the three-month period, which Mr Murray classed “strong”.

“Our continuing success in winning business, growing our backlog and diversifying our customer base positions us well for future growth,” Mr Murray said.