ICON CEO Steve Cutler To Retire; Promotes COO Barry Balfe As New CEO

(RTTNews) - Clinical research organization ICON plc (ICLR) announced that Steve Cutler has informed the Board of his decision to retire as Chief Executive Officer. Cutler will continue to serve on the Board as a non-executive director to facilitate a smooth transition.

Cutler has served as CEO since March 2017, having previously served as Chief Operating Officer from January 2014.

The Board has appointed Chief Operating Officer Barry Balfe to succeed Cutler as Chief Executive Officer, effective October 1, 2025. Balfe has also been appointed to the Board.

Balfe has been with ICON for over 20 years and has held a number of leadership roles across both full service and functional solutions at ICON. He has served as ICON's COO since January 2025.

Prior to his appointment as COO, Balfe was appointed to the ICON executive leadership team in 2019 and served as President of Functional Services and then as President of Pharma Solutions. Balfe joined ICON in 2011.

Balfe initially joined ICON's Business Development team in 2003, before taking on the leadership of ICON's US FSP business in early 2007 and subsequently overseeing European FSP operations.