Vertex Pharmaceuticals Incorporated announced that Ian Smith has been terminated as Chief Operating Officer and interim Chief Financial Officer (CFO) effective immediately. Mr. Smith's termination is the result of personal behavior that violated Vertex's Code of Conduct and values and is unrelated to the Company's financial and business performance. The Company and the Board made this determination following a prompt and comprehensive investigation conducted with the assistance of independent external counsel, WilmerHale.

Paul Silva, Senior Vice President and the Company's Corporate Controller and Chief Accounting Officer since 2008, has been appointed interim CFO, effective immediately, while the Company conducts a formal search to identify a permanent CFO. During the last decade, Mr. Silva has held responsibility for global accounting, tax, treasury and other key areas.