Jones Lang LaSalle Incorporated (NYSE: JLL) has announced that David B. Rickard has been elected as a member of its Board of Directors.
Since 1999, Mr. Rickard (60) has served as the Executive Vice President, Chief Financial Officer and Chief Administrative Officer of CVS Caremark Corporation (NYSE: CVS), the number one provider of prescriptions and related healthcare services in the United States. Comprised of over 6,000 CVS/pharmacy stores, its Caremark pharmacy benefit management division, MinuteClinic retail-based health clinic subsidiary and CVS.com, CVS Caremark fills or manages more than 1 billion prescriptions each year as part of its commitment to improve healthcare outcomes for a wide range of employers, health plans and consumers.
Prior to joining CVS Caremark, Mr. Rickard was the Senior Vice President and Chief Financial Officer for RJR Nabisco Holdings Corporation. He is currently a member of the Board of Directors, and Chairman of the Audit Committee, of Harris Corporation, an international communications and information technology company.
Mr. Rickard will serve as an independent, non-executive Director on the Jones Lang LaSalle Board. He will also serve on each of the Audit Committee and the Nominating and Governance Committee. The Board has determined that Mr. Rickard qualifies as an 'audit committee financial expert' under the rules of the U.S. Securities and Exchange Commission.
Sheila Penrose, Chairman of the Jones Lang LaSalle Board of Directors, said, "We are pleased to welcome David to our Board. He is a world-class executive with financial, transactional and administrative experience that will complement the expertise and perspective of our high-calibre Board."
Colin Dyer, President and Chief Executive Officer of Jones Lang LaSalle, commented further, "As the Chief Financial Officer for a company with over 6,000 stores, David will bring to us the valuable insights of a major user of commercial real estate that will help us enhance our ability to deliver superior client service and generate new growth."
Since he is filling a vacancy on the Board, Mr. Rickard will initially serve a term that will expire at the Company's 2008 Annual Meeting of Shareholders. His appointment brings the Jones Lang LaSalle Board to a total of nine Directors. In addition to Ms. Penrose and Mr. Dyer, the current members of the Board are Henri-Claude de Bettignies, Darryl Hartley-Leonard, Sir Derek Higgs, Lauralee E. Martin, Alain Monié and Thomas C. Theobald.
Source: Jones Lang LaSalle