USA – BD (Becton, Dickinson and Company), a leading global medical technology company, has announced the appointment of William “Bill” Brown to its board of directors, effective February 28, 2022.
Brown, 59, is the current executive chair of L3Harris Technologies, a global aerospace and technology innovator with an annual revenue of US$18 billion and customers in over 100 countries.
Brown previously served as chair and CEO of L3Harris from July 2019 to June 2021, following the merger of L3 and Harris in 2019.
Brown was the chairman, CEO, and president of Harris prior to the merger. Prior to joining Harris, Brown worked for United Technologies Corporation (UTC) for 14 years in various leadership positions, including senior vice president of Corporate Strategy and Development and president of UTC Fire & Security.
Earlier in his career, Brown worked for McKinsey and Company.
Commenting on the new appointment, Tom Polen, chairman, CEO and president of BD said, “I am very pleased to welcome Bill to the BD Board of Directors.
“Bill is a growth-oriented leader with an extensive background in innovation and operational excellence. He will be a tremendous asset to our board and to BD as we continue to advance our BD2025 strategy and build sustainable, long-term value for our stakeholders.”
Brown is a member of the Business Council, the Celanese Corporation Board of Directors, and the Fire Department of New York City Foundation Board.
He was also a member of the AIA’s Executive Committee and the former chair of the Aerospace Industries Association (AIA).
Brown earned a Bachelor of Science and a Master of Science in mechanical engineering from Villanova University, as well as a Master of Business Administration from the University of Pennsylvania’s Wharton School.
Meanwhile, earlier on, the board of directors of Becton, Dickinson and Company approved the company’s diabetes spinoff and set an April 1 deadline for the transition.
The approval of Embecta Corp. was announced on February 1, along with a pro rata distribution of all outstanding shares of Embecta common stock to BD shareholders.
The spinoff was approved unanimously by the board. Upon completion, Embecta will be an independent, publicly traded company, with no ownership interest retained by BD.
According to the board, the separation is in line with the Franklin Lakes-based company’s growth strategy, allowing it to focus on core innovation priorities.
The move will also boost Embecta’s ability to attract capital and talent, as well as allocate resources to its innovative business development.
BD will issue one share of Embecta common stock for every five shares of BD common stock outstanding on the record date.
According to BD, shareholders will receive cash in lieu of fractional shares of Embecta common stock.
Embecta anticipates that its common stock will begin trading on a “regular basis” on April 1; it has applied to have its common stock listed on NASDAQ under the ticker symbol EMBC.
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