Charles River Laboratories International, Inc. 2026 Global Healthcare Conference
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Good morning, everyone. I'm Eric Caldwell. It's my pleasure to introduce Charles River. A little bit different. We've been on stage before. We've been on stage before at a Yeah different company, but it's a little bittersweet not having Jim here.
I'm glad for him in retirement, but it's also great to see both of you. Birgit obviously is a lifer at the company, what, over 30 years? Glenn, we knew each other at Premier, and Yep you joined five months ago five, I was going to say four.
Five months ago. Yeah. Fantastic to have you both with us, and I'm probably sharing secrets that I shouldn't share.
But Charles River was, once again, the number one most requested company at the conference.
Thank you. Great to hear.
Great to hear. You've got some attention.
It looks like we already have a couple of questions coming in, but again, anyone who needs to send a question up to the front, please do so. I want to just start off right off the bat. You took over as CEO in May formally, right?
Yep. Again, been with the company over three decades.
You've seen it all, done it all there. Talk about the experience so far and then just basic observations. What's harder than you thought? What's easier or better than you thought?
Great question. The transition has actually been quite smooth and as you said, I spent nearly my entire career at Charles River. With that, I certainly know where Charles River's strengths is, but I also know where we need to be faster and sharper. And, certainly that's going to be my focus area. What I did over the last few months is I spent a lot of times meeting with stakeholders. I spent quite a bit of time visiting over 40 of our sites and in about seven countries, so visiting our employees, listening to them, and also making sure that they are aligned and understand our strategy and what we want to execute on.
I also spent a considerable amount of time with shareholders, and with our board and with our clients, all to really make sure I understand and refresh myself of what they need from us, and what Charles River needs to execute on to become an even stronger company. What I found was a lot of feedback that gave me confidence that Charles River is quite well positioned for the future, but also that our strategy, that we call Pathway to Purpose, is aligned with what they think we should do and is aligned with what we are currently executing on. What I also found going to our sites is that we are already executing on many of the things that are part of Pathway to Purpose, which is modernizing the company, refining our portfolio, and growing through a client-centric approach.
You know about the divestitures, you know about some of the M&A we have already done. I saw tons of examples of how we are modernizing the company. What surprised me, maybe in a nutshell, is the excitement and the confidence in the company and in me personally, which is great to see. I have been enjoying it, and I am looking forward making a real difference, and also looking forward to our investor day next week and sharing more about it.
Yeah. That will be great. Glenn, you are right, it was five months, April 6th, I would think.
Yeah That was the day.
You have been at several other companies, including several in healthcare. You have seen probably a pretty wide spectrum from day one where you stepped in, what was working, what was not working, what did you want to change or do differently? What is your early impression of Charles River? I assume it was left in a pretty good position, not a lot of cleanup here, but.
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