Amneal Pharmaceuticals Names New Co-CEOs and New Chairman

Amneal Pharmaceuticals, a generic-drug company, has named its co-founders, Chirag Patel and Chintu Patel, as Co-Chief Executive Officers (CEOs), effective immediately with the company’s announcement of August 5, 2019.

Chirag Patel and Chintu Patel, brothers, both previously served as Co-Chairman and Co-CEO of the company from 2002 to the completion of the company’s combination with Impax Laboratories in 2018. They have resigned as Co-Chairmen of the company’s Board and will remain on the Board as Directors. They have also resigned from their executive positions at other companies.

Additionally, Paul Bisaro, formerly Executive Chairman, and Rob Stewart, formerly President and CEO, have stepped down from the company’s Board. Mr. Stewart will serve as an advisor to the company through a transition period.

In addition, Paul Meister, Co-Founder of Liberty Lane Partners, LLC, a private investment company, and Perspecta Trust, a trust company, has been appointed to the Board of Directors as Chairman. Mr. Meister recently served as President of MacAndrews & Forbes, a diversified holding company. He previously served as Chairman and CEO of inVentiv Health (now Syneos Health), a provider of commercial, consulting and clinical research services to the pharmaceutical and biotech industries. Prior to that, he served as Chairman of the Board of Thermo Fisher Scientific and Vice Chairman of Fisher Scientific International, prior to Fisher’s merger with Thermo.

Additionally, Robert L. Burr, Janet S. Vergis and Dharmendra Rama have resigned as independent directors on Amneal’s Board. Amneal has retained Korn Ferry, an executive search firm, to assist in the process of identifying independent candidates for the vacated Board seats.

Source: Amneal Pharmaceuticals

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