WILMINGTON, NC (WWAY) -- One of Wilmington's biggest employers has a new leader. PPD announced today its board of directors has Raymond H. Hill as the company's new chief executive officer and elected him to the board of directors. Both moves were effective Friday.
"I am excited to join the PPD team as CEO," Hill said in a statement. "PPD has a wonderful heritage as a great company, with a world class record in serving clients and strong financial performance. I look forward to working with the board of directors and the management team to help position the company to respond to the many challenges impacting our clients in maximizing their R&D spend and successfully navigating an increasingly complex global environment."
Hill comes to PPD after eight years with IMS Health, Inc., a provider of data, market research and consulting services to clients in the pharmaceutical and health care industries. He most recently served as president of IMS Consulting Group. During his tenure at IMS, he oversaw a strategy of aggressive organic and acquisition-based growth. Annual revenue increased five-fold over seven years helping to transform IMS from its data and market research roots and make it a leader in pharmaceuticals consulting. He also served on the executive leadership team of IMS, helping to set the overall direction of the company.
"With more than 20 years of experience in the life sciences arena, Ray brings keen strategic acumen as a proven leader who has grown global client services businesses in the pharmaceutical industry," said Fred Eshelman, executive chairman of PPD. "His consistent track record of business success and disciplined approach to operational and financial performance make him well suited for our CEO role."
Prior to his tenure at IMS Health, Hill was senior vice president for Acumen Sciences Limited. Hill held several roles in eight years at A.T. Kearney Ltd., including global head, pharmaceuticals and health care practice, in which he led the creation of the practice, hired the team of health care professionals and grew annual revenue to $45 million. In a six-year stint that culminated with him serving as senior associate in the energy, chemicals and pharmaceuticals practice of Booz Allen & Hamilton Inc., Hill gravitated to the health care side of the practice, which set him on his career path in the life sciences arena.
Consulting Magazine recognized Hill as one of the top 25 management consultants globally, and PharmaVOICE recognized him as one of the 100 most inspirational leaders in the pharmaceutical industry, both in 2007.
Hill holds a bachelor's degree from Cornell University and a master's degree from Duke University. He is married with three children.