NEW YORK (GenomeWeb News) – Becton Dickinson today announced that its board has elected Vincent Forlenza to take over as the company's CEO starting Oct. 1, replacing Edward Ludwig.
Forlenza who joined BD in 1980 is currently president and chief operating officer at BD. He will remain President upon becoming the firm's CEO, BD said. Starting Oct. 1, he also will become a member of the board.
Ludwig will serve as executive chairman of the board starting Oct. 1 continuing through June 2012.
The naming of Forlenza as BD's next CEO is in accordance with the company's long-term succession planning that began in 2008. In more than three decades at BD, Forlenza has worked in strategic planning, marketing, general management of several business units, and executive leadership, the company said, adding that he has served in all three of BD's business segments — BD Medical, BD Diagnostics, and BD Biosciences — as well as in strategy development and in overseas roles.
He became executive vice president in 2006, president in 2009, and COO in July 2010.
Ludwig has been CEO of BD since January 2000. Seven months before that, he was named the firm's president. In February 2002, he became chairman. During the past 12 years under his leadership, BD has more than doubled its revenues, more than tripled its net income, and almost tripled its market cap, it said. It is among the top-third in its peer group for total shareholder return during that time, BD added.