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Former Glaxo Exec To Head Chiron

March 24, 1998

EMERYVILLE, Calif. (AP) _ Former Glaxo Wellcome PLC heir-apparent Sean Lance has been named chief executive officer at Chiron Corp., ending a 14-month search by the biotechnology company.

Lance, 50, will take over from cofounder Edward Penhoet, Chiron said Monday. Penhoet will become vice chairman and oversee the company’s network of academic and business collaborators.

Chiron was founded in 1981 by its current chairman, William Rutter, a University of California at San Francisco professor, and by Penhoet, his former student.

Penhoet announced his intention to step down in January 1997.

Lance’s drug industry experience will fill a gap at Chiron, Penhoet said.

``His experience in helping shape Glaxo during its rise to prominence will be invaluable to Chiron,″ Penhoet said.

Lance worked for British drug giant Glaxo from 1985 until 1997, most recently as chief operating officer responsible for international operations. He resigned last fall when Glaxo appointed the head of its U.S. operations as chief executive.

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