Genentech Names Dick Munro As New Board Chair After Founder Swanson Retires.
SOUTH SAN FRANCISCO South San Francisco, city (1990 pop. 54,312), San Mateo co., W Calif.; inc. 1908. South San Francisco has several industrial parks; its manufactures include medical supplies and equipment, foods, paint, paper products, consumer goods, and clothing. , Calif.--(BUSINESS WIRE)--Dec. 13, 1996-- Genentech, Inc. (NYSE NYSE
See: New York Stock Exchange :GNE) announced today that it has named Dick Munro as the new chairman of its board of directors, following Robert A. Swanson's decision to retire as chairman and from the board at the end of 1996 after 20 years with the company that he co-founded with Herbert W. Boyer, Ph.D., in 1976, beginning the biotechnology industry. Munro has served on Genentech's board of directors for eight years.
"Dick Munro brings a wealth of experience to the Genentech Board both as a former CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Time Warner Inc. and as a member of the boards of several of America's premiere companies," said Arthur D. Levinson Arthur D. Levinson (born March 31, 1950 in Seattle, Washington, United States) is President and Chief Executive Officer of Genentech. He has held these positions since July 1995, and was named chairman of the board of directors in 1999. , Ph.D., Genentech's president and chief executive officer.
"I'm very excited about assuming the chairmanship of a company like Genentech -- it is the pioneer and pacesetter of the biotechnology industry," said Munro. "It's almost daunting daunt
tr.v. daunt·ed, daunt·ing, daunts
To abate the courage of; discourage. See Synonyms at dismay.
[Middle English daunten, from Old French danter, from Latin to follow on the heels of a man like Bob Swanson who is co-creator of the enterprise that is Genentech, but I hope to bring the same level of support and vision to the company as it enters its equally important second generation and continues leading the industry into the 21st century."
Munro became a member of the board of directors of Genentech in February, 1988. Munro is chairman of the Executive Committee of the board of directors of Time Warner Inc. Prior to the formation of Time Warner Inc., Munro was chairman and chief executive officer of Time Inc., where he began his career in 1957. Munro is a director of Mobil Corporation, Kellogg Company, and K Mart Corporation. Munro is a member of the National Coalition of AIDS Research and the Counsel on Foreign Relations, chairman of the Points of Light Foundation, a director of the United Negro College Fund The United Negro College Fund (UNCF) is a Fairfax, Virginia-based American philanthropic organization that fundraises college tuition money for African-American students and general scholarship funds for 39 historically black colleges and universities. , and a trustee of Hamilton College, St. Lawrence University St. Lawrence University is a private, four-year liberal arts college located in the village of Canton in Saint Lawrence County, New York. Founded in 1856, it is the oldest coeducational university in the state of New York. , Teacher's College, Columbia University and the Salisbury School.
Munro received his bachelor's degree from Colgate University and completed graduate work at Teacher's College, Columbia University. During the Korean War, he was decorated with the purple heart three times while serving in the U.S. Marine Corps.
Swanson, who will continue as an advisor and consultant for Genentech, decided to leave the company's board in Genentech's twentieth anniversary year to allow him more time to identify and fund novel young companies working in uncharted areas -- much as he launched Genentech with Boyer, a biochemist at the University of California The University of California has a combined student body of more than 191,000 students, over 1,340,000 living alumni, and a combined systemwide and campus endowment of just over $7.3 billion (8th largest in the United States). at San Francisco, in 1976.
Genentech, Inc. is a leading biotechnology company that discovers, develops, manufactures and markets human pharmaceuticals for significant unmet medical needs. Ten of the currently marketed biotechnology products stem from Genentech science, five of which Genentech markets directly in the United States. Genentech is headquartered in South San Francisco, California South San Francisco is a city in San Mateo County, California, United States, located on the San Francisco Peninsula in the San Francisco Bay Area. The population was 60,552 at the 2000 census. , and is traded on the New York and Pacific Stock Exchanges under the symbol GNE.
CONTACT: Genentech, Inc., South San Francisco
Laura Leber, 415/225-5759
Kathleen Rinehart, 415/225-8681
Susan Bentley, 415/225-1034