Ingo Bank has been appointed senior vice president at PAREXEL and will become chief financial officer on September 1. He joins the company from Royal Philips, where he served as chief financial officer and executive vice president of Philips Healthcare. Mr. Bank will be based at the company's corporate headquarters in Waltham, MA. He succeeds outgoing James F. Winschel, Jr., who will serve as executive vice president until he retires in 2014.
"PAREXEL is pleased to welcome a leader with Ingo's global experience. He has an impressive record overseeing financial management across a variety of industry sectors. Ingo's business acumen and focus on continuous improvement and performance will serve us well as we drive our growth strategy and focus on continuing to deliver profitable results to our stakeholders," said Josef von Rickenbach, chairman and chief executive officer, PAREXEL.
"As we welcome Ingo Bank to PAREXEL, I would also like to recognize Jim Winschel's commitment to overseeing the worldwide financial management for the Company. Under his leadership, PAREXEL's market capitalization grew from $225 million to $2.7 billion, service revenue increased from $378 million to $1.7 billion and backlog grew from $385 million to over $4 billion," said Mr. von Rickenbach. "We thank Jim for his efforts and his continued involvement in the company."