|By Business Wire||
|April 8, 2014 04:05 PM EDT||
Agilent Technologies Inc. (NYSE: A) today announced that it plans to appoint Paul N. Clark and James G. Cullen to the board of directors of Keysight Technologies, Inc. Clark is expected to become Keysight’s chairman of the board.
Agilent announced in September 2013 that it would separate into two publicly traded companies, one in life sciences, diagnostics and applied markets that will retain the Agilent name, and the other to comprise Agilent’s current portfolio of electronic measurement products that will operate under the Keysight name.
Agilent expects these director appointments to become effective concurrently with, or shortly before, the completion of the Keysight spinoff, currently targeted for early November 2014. Both Clark and Cullen are expected to continue serving their current terms as members of the Agilent board.
“I’m delighted with the appointments of two such strong contributors as our first board members for Keysight Technologies,” said Ron Nersesian, Keysight president and CEO. “Both have been key members of the Agilent board and possess an excellent understanding of Keysight’s business.”
“I feel very confident about the strong track record of the EM business, with its world-class technology, market-leading platforms and proven business model,” said Clark. “Ron and his team are developing a solid strategy for Keysight that will enable it to launch and operate on a stand-alone basis as the premier electronic measurement company.”
Clark has been a member of Agilent board of directors since 2006. He has also been a strategic advisory board member of Genstar Capital, LLC, since 2007, and was an operating partner from August 2007 to January 2013. Prior to that, Clark was the chief executive officer and president of ICOS Corp. from June 1999 to January 2007, and the chairman of the board of directors of ICOS from February 2000 to January 2007. From 1984 to 1998, Clark worked at Abbott Laboratories as the president of the Pharmaceuticals division; he retired from Abbott Laboratories as executive vice president and board member.
Cullen has been a director of Agilent since 2000 and Agilent’s non-executive chairman of the board since 2005. Cullen was president and chief operating officer of Bell Atlantic Corp. (now known as Verizon) from 1997 to 2000. Currently, Cullen is also a member of the board of directors of Johnson & Johnson, Prudential Financial, Inc., serving as the lead independent director since 2011, and NeuStar, Inc., serving as the non-executive chairman since 2010.
About Agilent Technologies
Agilent Technologies Inc. (NYSE: A) is the world’s premier measurement company and a technology leader in chemical analysis, life sciences, diagnostics, electronics and communications. The company’s 20,600 employees serve customers in more than 100 countries. Agilent had revenues of $6.8 billion in fiscal 2013. Information about Agilent is available at www.agilent.com.
On Sept. 19, 2013, Agilent announced plans to separate into two publicly traded companies through a tax-free spinoff of its electronic measurement business. The new company is named Keysight Technologies, Inc. The separation is expected to be completed in early November 2014.
This news release contains forward-looking statements as defined in the Securities Exchange Act of 1934 and is subject to the safe harbors created therein. The forward-looking statements contained herein include, but are not limited to, information regarding the expected appointments of Keysight directors and the separation of Agilent and Keysight. These forward-looking statements involve risks and uncertainties that could cause results to differ materially from management’s current expectations. Such risks and uncertainties are detailed in Agilent’s filings with the Securities and Exchange Commission, including our Quarterly Report on Form 10-Q for the fiscal quarter ended Jan. 31, 2014. Forward-looking statements are based on the beliefs and assumptions of Agilent’s management and on currently available information. Agilent undertakes no responsibility to publicly update or revise any forward-looking statement.
NOTE TO EDITORS: Further technology, corporate citizenship and executive news is available at www.agilent.com/go/news.
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