Shire plc (SHPG,SHP.L) Wednesday said it is shifting more than 500 positions from its Chesterbrook, Pennsylvania site to Lexington, Massachusetts, seeking to realize savings of around $25 million annually from 2016 and achieve greater alignment between its commercial and research and development teams.
The company plans to finish relocating its employees to the Lexington, Massachusetts site, which will be Shire's U.S. operational headquarters, by the first quarter of 2016.
The company also said it has appointed Jeff Poulton, its head of Investor Relations, as its interim chief financial officer, with effect from January 1, 2015.
Shire said Poulton oversaw the rare diseases business unit operations in North America, Latin America, and Asia Pacific. Poulton has worked in finance and business development roles at Cinergy Corp. and PPG Industries prior to joining Shire in 2003.
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