DURHAM – Dennis Gillings, the former UNC Chapel Hill professor who founded and built Quintiles from a trailer into one of the world’s life sciences services companies, has retired.
With no fanfare through a brief SEC filing on Thursday, IQVIA, which resulted from the merger of Quintiles and IMS Health in 2016, disclosed that Gillings had stepped down from his position as lead director.
Gillings recently was named to the latest Forbes list of billionaires, joining Jim Goodnight and John Sall of SAS along with C.D. Spangler of Charlotte as North Carolinians on the list.
He also still owns some 10 million shares of IQVIA stock, which traded at just over $96 a share on Thursday.
Gillings founded Quintiles in 1982 and served a variety of roles from CEO to chairman as he steed the company to an IPO, returned it to private ownership, and then led the firm public again under Tom Pike whom he had selected to serve as CEO. PIke then helped create the merger with IMS Health.
New company leadership later changed the name of the merged Quintiles iMS to IQVIA.
Here is the SEC filing:
“On May 3, 2016, in connection with the merger of Quintiles Transnational Holdings Inc. and IMS Health Holdings, Inc, we entered into a shareholders agreement (the “Shareholders Agreement”) with certain of the largest post-merger shareholders, including Dennis B. Gillings, CBE (“Dr. Gillings”) and certain of his affiliates. Pursuant to the Shareholders Agreement, Dr. Gillings was elected as our lead director through our 2018 annual meeting of stockholders, which was held on April 10, 2018 (the “Annual Meeting”). Following the Annual Meeting, Dr. Gillings retired from the board of directors. Dr. Gillings’ retirement, notice of which was provided to us on April 9, 2018, was not due to any disagreement with us on any matter relating to our operations, policies or practices.”