Agilent’s McDonnell to succeed retiring CEO McMullen

Original from: Yahoo!Finance

Name: Padraig McDonnell

New title: CEO-elect and chief operating officer, Agilent

Previous title: President of Agilent CrossLab Group

Scientific instruments maker Agilent Technologies has promoted Padraig McDonnell to CEO-elect and chief operating officer. He will become president and CEO in May, and will also join the company’s board of directors at that time.

McDonnell, current president of the Agilent CrossLab Group, succeeds President and CEO Mike McMullen, who is retiring, the company said Wednesday.

McDonnell has been in the instruments industry for 26 years, having begun his career with Agilent predecessor Hewlett-Packard. Agilent was spun off from Hewlett-Packard in 1999. He was named president of the CrossLab Group in 2020 and also appointed Agilent’s chief commercial officer in 2021. Before that, McDonnell was vice president and general manager of the company’s chemistries and supplies division.

"I am both honored and energized to succeed Mike and become Agilent's next CEO," McDonnell said in a statement. "Mike has been a great mentor to me, and I welcome his continued support.”

McMullen, who spent nearly 40 years at Agilent and Hewlett-Packard, will remain CEO and a director until May 1, and serve as an adviser to the company until his retirement on Oct. 31.

During McMullen’s nine-year tenure as CEO, the market capitalization of Agilent nearly tripled, according to the Santa Clara, California-based company.

Late last year, the company initiated a restructuring plan that included a 2% reduction of its workforce as sales slowed amid ongoing market challenges stemming from the COVID-19 pandemic. Agilent also agreed to sell its Resolution Bioscience business, which makes blood-based diagnostic tests, to Exact Sciences.

Angelica Riemann, vice president and general manager of the CrossLab Group’s services division, was named president of the group. Jonah Kirkwood, vice president of global sales, will become chief commercial officer.

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Source: Agilent’s McDonnell to succeed retiring CEO McMullen