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news.Sigma-Aldrich Corporation (Sigma-Aldrich), a US-based company, announced that David Harvey retired as chairman, effective May 5, 2009. Harvey would continue as a director of the company. The directors elected Jai Nagarkatti, currently president and chief executive officer and a director of the company, to the additional position of chairman. The board also appointed Barrett Toan, currently a director of the company, to the position of presiding director.
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Nagarkatti joined the company in 1976 and held roles in R&D, production, operations and sales before being elected president and chief operating officer in 2004. Toan is the former chairman of Express Scripts, Inc. and has been a director of Sigma-Aldrich since 2001.
Harvey joined the company in 1974 and has served in a number of roles. He began his career with the company as the senior executive in charge of European operations, served as president of Aldrich Chemical and executive vice president and chief operating officer of Sigma-Aldrich before being elected as president of the company from 1995 to 2004, as chief executive officer from 1999 to 2005 and as chairman since 2001. He has been a director of the company since 1981.
In his years of management, Harvey guided the company through many years of consistent growth in sales and earnings, driving chemical sales from $776 million in 1995 to over $2.2 billion in 2008, with chemical net income increasing from $114 million in 1995 to over $340 million in 2008.
Jai Nagarkatti stated, “David Harvey has devoted 35 years to building our Company. His exceptional leadership drove continued growth at Sigma-Aldrich and enabled it to retain its position as one of the world leaders in science, key to the Company’s growth and returns over many years. On behalf of the Board, our 7,800 employees around the world and the shareholders, I thank him for his efforts.”