Perrigo Chariman and CEO Leaves to Lead Valeant

Perrigo Company plc has appointed John T. Hendrickson as chief executive officer (CEO), effective immediately, following the resignation and departure of Joseph C. Papa, who resigned from Perrigo to become chairman and CEO of Valeant Pharmaceuticals International. Papa resigned from Perrigo on April 24 and Valeant announced his appointment on April 25, 2016,

Mr. Papa will join Valeant in early May and will also join the company’s board of directors. He will succeed J. Michael Pearson, who is expected to remain as CEO and a director until Mr. Papa arrives at Valeant.

Mr. Hendrickson has 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.

In addition, on April 24, 2016, Perrigo’s board of directors approved the recommendation of the Nominating & Governance Committee to withdraw Marc Coucke’s nomination for re-election to the board. Furthermore, the board is also separating the roles of CEO and chairman of the board and, in doing so, elected independent director Laurie Brlas to the role of chairman of the board.

Mr. Papa has more than 35 years of experience in the pharmaceutical, healthcare services and specialty pharmaceutical industries, including 20 years of branded prescription drug experience. Mr. Papa has been CEO of Perrigo since 2006 and was appointed as chairman of the board of directors of Perrigo in 2007. Prior to Perrigo, Mr. Papa served from December 2004 to October 2006 as chairman and CEO of the Pharmaceutical and Technologies Services segment of Cardinal Health, Inc. From 2001 to 2004, he served as president and chief operating officer of Watson Pharmaceuticals, Inc.

Source: Perrigo and Valeant Pharmaceuticals

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