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SOMERSET, N.J. - InVentiv Health Inc., which provides commercialization services to the pharmaceutical and health care industries, said Thursday that its board has named President Blane Walter to succeed Eran Broshy as chief executive.
| VTIV | 10.15 |  0.2 |
Walter will assume his new role on June 11 after the company's annual shareholder meeting. Broshy, who joined inVentiv as CEO in 1999 and became chairman in 2006, will now serve as executive chairman.
Walter, 37, currently serves as president of inVentiv Health. He joined the company in 2005, when inVentiv acquired inChord Communications, a privately held health care communications company, where he was chairman and CEO.
Broshy, 49, called the transition "a natural evolution in our phased leadership succession plan." The company said it does not expect strategy changes to result from the transition.
InVentiv shares dropped $1.02, or 3 percent, to $33.05 in afternoon trading. The stock has traded between $26.36 and $46.49 during the past 52 weeks.
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