PRA Health Sciences, a contract research organization focused on product development and drug safety management, announced that Chief Financial Officer Linda Baddour will be retiring.

Baddour will retire from her position effective May 1. She will remain as the executive vice president through Sept. 20 in order to assist with the transition of her responsibilities and act as a special advisor to the chief executive officer.

Baddour was named executive vice president and chief financial officer in June 2007. From 2002 to 2007 she was CFO at Pharmaceutical Product Development Inc. During her tenure there, the company posted greater than 20 percent annual revenue growth and industry-leading margins, while consistently meeting revenue and earning targets.

Baddour has also managed mergers and acquisitions and information technology.

PRA Health announced that Michael J. Bonello has been appointed executive vice president and CFO effective May 1.

Bonello currently serves as senior vice president and accounting and corporate controller for PRA Health Sciences.

Prior to joining the company Bonello held positions with Cree Inc., where he was director of finance/corporate controller, and Genworth Financial, where he served as vice president, domestic controller and global reporter leader.

“I have full confidence in Mike’s ability to lead our finance organization, and we expect a smooth transition,” said CEO Colin Shannon in a statement. “Mike brings a tremendous depth of experience and leadership, and he will continue to be a tremendous asset to PRA in the new role as we continue to grow the company.”

PRA Health Sciences is one of the world’s leading global contract research organizations, by revenue, providing outsourced clinical development services to the biotechnology and pharmaceutical industries.

The company’s global clinical development platform includes more than 70 offices across North American, Europe, Asia, Latin America, South Africa, Australia and the Middle East. It has more than 15,800 employees worldwide.

PRA has participated in the pivotal or supportive trials that led to U.S Food and Drug Administration or international regulatory approval of more than 75 drugs.

PRA’s stock closed Friday at $85, up $3.39, or 4.15 percent.