John T. Hendrickson, chief executive officer (CEO) of Perrigo, announced his forthcoming retirement from the company, 14 months after assuming that role with the company. A search committee of the Board of Directors has been created and will begin conducting a thorough process to identify Mr. Hendrickson’s replacement, said Perrigo in a statement.

Mr. Hendrickson will remain with the company until his replacement is appointed as well as up to 60 days following to ensure a smooth and successful transition. Mr. Hendrickson will continue to stand for election to Perrigo’s Board of Directors at the company’s Annual General Meeting on July 20, 2017 and will step down from the board upon the appointment of a new CEO.

Mr. Hendrickson became CEO in late April 2016, following the resignation and departure of Joseph C. Papa, who resigned from Perrigo to become chairman and CEO of Valeant Pharmaceuticals International.

Prior to assuming the role of CEO, Mr. Hendrickson served as president of the Perrigo Company since October 2015. He was formerly executive vice president, global operations & supply chain between 2006 and 2015 and has held numerous other management and operational leadership roles at Perrigo since he joined the company in 1989, including leading the US Consumer Healthcare business from 2003 to 2006.

>Source: Perrigo