I'm no gunslinger says Shire's new US chief

Shire Pharmaceuticals finally appointed a chief executive yesterday, five months after the controversial ousting of Rolf Stahel, who had turned the drug maker into a FTSE 100 stalwart in almost a decade at the helm.

The company has appointed an American, Matthew Emmens, most recently an executive at the German group Merck KGaA, who has been charged with making acquisitions to bolster Shire's portfolio of drug products.

Mr Emmens, 51, said he would "not come in like a cowboy, slinging a gun", but would take the first few months to examine the shape of the company. He sidestepped issues over the geographical focus of the company and its acquisition strategy, which was believed to underlie the boardroom row that led to Mr Stahel's removal. He will move to the UK but keep on his three homes in the US.

He said: "All companies need to consider meaningful opportunities in the major global markets, which are Europe and the US, and there needs to be a balance of those." Mr Emmens left Merck KgaA a month ago, having been president of its global prescription pharmaceuticals division. He began his career at another Merck, the US giant Merck & Co, and ran the joint venture which included Prilosec, the novel ulcer drug that became the biggest selling medicine in the world.

Mr Emmens will be judged on his ability to bring off successful acquisitions to reduce Shire's dependence on its most successful drug, a treatment for hyperactive children, Adderall. The drug still accounts for more than 40 per cent of the company's sales.

The company's shares have languished since the respected Mr Stahel was ousted. He had agreed to stay on in a caretaker capacity and will leave at the end of next week. To date, Mr Stahel, 58, has refused offers to meet headhunters and said yesterday that he would take time out to "clear my mind, take the opportunity to think about redirecting my life".

However, he said he was unlikely to retire. "I think it is fair to bet that I won't spend the rest of my time yodelling in the Alps. For now, though, and for the first time in my professional life, I have time to spend on my wife and myself."