KLAUS H. RISSE TO RETIRE FROM MILES INC.
KLAUS H. RISSE TO RETIRE FROM MILES INC. PITTSBURGH, June 9 /PRNewswire/ -- After more than 36 years of
dedicated service, Klaus Heinz Risse, Ph.D., vice chairman of Miles Inc., will retire effective June 30, it was announced today.
Miles Inc. was formed on Jan. 1, 1992, through the merger of Mobay Corp. (chemicals) and Agfa Corp. (imaging technologies) into Miles Inc. (health care products). Risse, 63, began his professional career with Miles' parent company in Germany on Aug. 1, 1955, after earning a doctorate in organic chemistry from the University of Munich. From 1955 to 1963, he held a series of positions in pharmaceutical research as well as in production. He was also involved in several major pharmaceutical projects, as an example, semisynthetic penicillin development. In 1963, Risse moved into the agricultural chemicals area. He became a director in 1968 and was named division head of the worldwide business in 1971. He played a key role in the international development of the parent company's agricultural chemicals business, particularly in the former Mobay Corp. in the United States. He was also responsible for the construction of the company's large Agrochemicals World Headquarters in Monheim, Germany. Risse came to the United States as vice chairman and chief executive officer-elect of Miles Laboratories, Inc. in September 1983. He was elected chairman and chief executive officer in 1984 and became president and chief executive officer in 1986. During nearly eight years as head of the former Miles organization, Risse provided the leadership that helped establish the company's health care business in the United States. Under his stewardship, sales of the company more than doubled, and profitability increased threefold. Among many other accomplishments, he concluded the company's first agreement for a genetically engineered product, recombinant Factor VIII, in 1984; he dedicated the first phase of the Miles Research Center in West Haven, Conn., in 1988; and he was instrumental in transforming Miles' image from an over-the-counter drug firm to that of a diversified health care company, with the majority of its sales coming from pharmaceuticals and diagnostics. At the beginning of this year, Risse became vice chairman of the board of directors of the new Miles Inc. Risse is a member of the boards of the Pharmaceutical Manufacturers Association headquartered in Washington and the Indiana Chamber of Commerce. He is also a member of the Advisory Council for the College of Science at the University of Notre Dame in South Bend, Ind. Miles Inc. is a Fortune 100, research-based company with major businesses in chemicals, health care and imaging technologies. Headquartered in Pittsburgh, Miles employs some 30,000 people at its operations throughout the United States and Canada. In 1991, the company's sales were $6.2 billion. /delval/ -0- 6/9/92 /CONTACT: Barry S. Cohen of Miles Inc., 412-394-5504/ CO: Miles Inc. ST: Pennsylvania IN: CHM MTC SU: PER
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|Date:||Jun 9, 1992|
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