Tim Sear to Retire As Alcon President, CEO - Cary Rayment Elected to Fill the Posts

Back to Press releasesHünenberg,Jul 13, 2004

Alcon, Inc. (NYSE:ACL) Chairman, President and Chief Executive Officer Tim Sear announced that he will retire as President and Chief Executive Officer effective October 1, 2004. In a special meeting held yesterday, Alcon's Board of Directors elected Cary Rayment, currently Senior Vice President, Alcon United States, to fill the President and CEO positions. In addition to his current U.S. role, Mr. Rayment is also responsible for Alcon's global marketing and its operations in Japan.
Mr. Sear will continue to serve as a member and Chairman of the Alcon Board of Directors until the company's Annual General Meeting in Zug, Switzerland on May 3, 2005, at which time the shareholders will elect a new Director and the Board will elect a new Chairman.

"I've had a long and exciting career at Alcon for the past 34 years. Alcon has grown more than a hundredfold over these years and is active in virtually every country worldwide. It is now time for me to spend more time with my family and to pursue other personal interests," said Mr. Sear, who turned 67 in April. "Alcon is a remarkable company, with a broad and deep management team. I have the utmost confidence that Cary will provide skilled and dynamic leadership for the outstanding people of Alcon, who are our greatest asset."

Mr. Rayment, 57, joined Alcon in 1989, following the acquisition of CooperVision Surgical, as Vice President, Surgical Products Marketing. Since then, his responsibilities have steadily increased in scope. He previously served as Vice President and General Manager for Surgical Products, Managed Care, International Marketing and Alcon Japan before moving to his current position in January 2001. Mr. Rayment lives in Colleyville, Texas with his wife, Janet. They have one adult daughter, Kelly, who lives in California.

"I'm delighted to have the opportunity to lead Alcon and our 12,000 people into the future," said Mr. Rayment. "Alcon has experienced considerable growth under Tim's leadership, and I'm looking forward to building on the sound foundation we have created over the years."

Kevin Buehler, currently Vice President, Latin America, Canada and Far East, will be promoted to Senior Vice President, Alcon United States, replacing Mr. Rayment, on October 1. He is 47 years old and has been with Alcon for 20 years in a variety of positions of increasing responsibility.

Alcon, Inc. is the world's leading eye care company, with sales of $3.4 billion and profits of $595 million in 2003. Alcon, which has been dedicated to the ophthalmic industry for more than 50 years, develops, manufactures and markets pharmaceuticals, surgical equipment and devices, contact lens solutions and other vision care products that treat diseases, disorders and other conditions of the eye. Nestlé S.A. of Vevey, Switzerland owns approximately 75 percent of Alcon stock.