Quintiles IMS’s Tom Pike leaves abruptly

  • Signs for push-out forces
  • After a few weeks on the job
  • Laud, praise and thanks for Pike
  • Richard Staub III takes over

(management-change.com) — Danbury, Connecticut, November 30, 2016 — Tom Pike, top manager of Quintiles IMS, leaves. It is an abrupt change. As announced by Quintiles IMS Holdings, Inc. in a news release and in a regulatory filing published on Wednesday, November 30, 2016, Thomas H. (Tom) Pike leaves the post as president of R&D Solutions at the provider of biopharmaceutical development services in a surprising move after a few weeks on the job, effective December 01, 2016.

Pike leaves the company effective December 02, 2016.

Tom Pike is the CEO who led Quintiles to a merger earlier this year with IMS and accepted a demotion as part of the deal.

Pike’s duties are taken over by Richard Staub III, currently president of Novella Clinical, a Quintiles company, as well as the leader of QuintilesIMS’s Global Functional Resourcing business and a member of the Research & Development Solutions Executive Committee.

The move is part of a management shake-up.

“Accelerated by the rapid implementation of strategic and operational changes”

Pike’s sudden departure is explained as follows. Quintiles IMS said: “The management transition, which had always been anticipated and is part of a planned succession, has been accelerated by the rapid implementation of strategic and operational changes.”

“Retirement”

Quintiles IMS said: “On November 29, 2016, Thomas H. Pike, Vice Chairman, President, Research & Development Solutions business unit, and a member of the Board of Directors … of Quintiles IMS Holdings, Inc. …, informed the Company of his retirement as an officer, employee and member of the Board.”

While his retirement as a member of the Board is effective immediately, he will remain as an officer and employee until December 2, 2016.

“Not due to any disagreement”

“Mr. Pike’s retirement was a personal decision and was not due to any disagreement with the Company on any matter relating to the Company’s operations, policies or practices,” Quintiles IMS said.

It is a phrase that may be intended to prevent false rumors. It may also fuel further speculation and raise more questions than it answers.

Such a phrase should be read very carefully. The exact wording may be insightful.

Precise information about the future plans of Pike was not immediately available.

Chaired by Ari Bousbib

Quintiles IMS Holdings, Inc. is chaired by Ari Bousbib.

Ari Bousbib has been Chairman and Chief Executive Officer of Quintiles IMS Holdings, Inc. since October 3, 2016.

Bousbib served as the Chief Executive Officer of IMS Health Holdings, Inc. from September 2010 to October 2016.

On the job as president of R&D Solutions since 2016

Pike has been Vice Chairman and President of Research and Development Solutions at Quintiles IMS Holdings, Inc. since October 3, 2016.

Pike has concentrated his career in the healthcare and technology industries, and he is viewed as a leading expert in the provision of business services within these fields.

With more than 30 years of experience, Pike brings an integrated, patient-centric view of healthcare spanning pharma, payers and providers.

In 2012, Pike joined Quintiles as chief executive officer and was appointed to the Quintiles board of directors.

In 2013, he led its initial public offering, and in the following year Quintiles was named to the Fortune 500.

Before joining Quintiles, Pike spent 22 years at Accenture, including 15 years in leadership roles, partnering with many of its key clients globally.

As managing director of Accenture’s North America Health and Products business areas, he successfully grew the portfolio of businesses.

More recently, he was chief risk officer, serving on Accenture’s Executive Committee and a member of the small team of executives who reviewed major company transactions.

Early in his career, he was a consultant at McKinsey & Company, working with clients on strategy development across a range of industries.

Pike earned his bachelor’s degree in accounting at the University of Delaware.

Signs for push-out forces

It is not completely certain what forces eventually triggered Tom Pike’s move.

The Push-out Score™ determined by management-change.com suggests that push-out forces may have contributed to the management change.

Read the full story in the management-change.com report 45.2016 ($).