Sigma-Aldrich Corporation, a leading life science and high-technology company, announced that Dr. David R. Harvey retired as chairman effective May 5. He will continue as a director of the company. At the board meeting held on May 5, the directors elected Dr. Jai Nagarkatti, currently president and chief executive officer and a director of the company, to the additional position of chairman. The board also appointed Barrett Toan, currently a director of the company, to the position of presiding director.
Harvey joined the company in 1974 and has served in a number of roles. He began his career with the company as the senior executive in charge of European operations, served as president of Aldrich Chemical and executive vice president and chief operating officer of Sigma-Aldrich before being elected as president of the company from 1995 to 2004, as chief executive officer from 1999 to 2005 and as chairman since 2001. He has been a director of the company since 1981.
In his years of leadership, Harvey guided the company through many years of consistent growth in sales and earnings, driving chemical sales from $776 million in 1995 to over $2.2 billion in 2008, with chemical net income increasing from $114 million in 1995 to over $340 million in 2008.
Nagarkatti joined the company in 1976 and held roles in R&D, production, operations and sales before being elected president and COO in 2004. He became CEO in 2006 and has served as a director of the company since 2005.
Toan is the former chairman of Express Scripts Inc. and has been a director of Sigma-Aldrich since 2001.
Nagarkatti stated, "David Harvey has devoted 35 years to building our company. His exceptional leadership drove continued growth at Sigma-Aldrich and enabled it to retain its position as one of the world leaders in science, key to the company's growth and returns over many years. On behalf of the board, our 7,800 employees around the world and the shareholders, I thank him for his efforts."
About Sigma-Aldrich
Sigma-Aldrich’s biochemical and organic chemical products and kits are used in scientific research, including genomic and proteomic research, biotechnology, pharmaceutical development, and as key components in pharmaceutical, diagnostic and other high technology manufacturing. It has customers in life science companies, university and government institutions, hospitals and in industry. Sigma-Aldrich operates in 38 countries and has 7,800 employees providing excellent service worldwide.