Healthcare Industry News: HSMN NewsFeed
News Release - April 4, 2018
Angus Russell to Succeed Melvin Booth as Mallinckrodt Chairman of the Board in May 2018Booth announces retirement; Director Diane Gulyas also to retire from Board in May 2018
STAINES-UPON-THAMES, United Kingdom, April 4, 2018 -- (Healthcare Sales & Marketing Network) -- Mallinckrodt plc (NYSE: MNK), a leading global specialty pharmaceutical company, today announced that Angus Russell will succeed Melvin Booth as non-executive chairman of the Company's Board of Directors when Mr. Booth retires from the Board in May 2018.
A director, member of the Audit and Portfolio Committees and chairman of the Mallinckrodt Board since June 2013, Mr. Booth, age 73, has elected to retire. Commenting on his decision, Mr. Booth said, "It has been a tremendous privilege to serve on the Mallinckrodt Board of Directors since the company became public in 2013, and a particular honor to serve as chairman. I am grateful to my fellow Board members, to our talented management team and to our more than 3,500 employees for their hard work and commitment to this great company. I am particularly proud of our efforts in transforming the company to one focused on treatments that can make a difference in the lives of patients with serious and complex conditions."
"I've had the opportunity to get to know and work with Angus Russell since he joined the Board in 2014," Mr. Booth continued, "and with his deep experience in the pharmaceutical industry I am confident that Angus will be an exceptional chairman when he assumes the role in May."
Mr. Russell, age 62, joined the Mallinckrodt Board of Directors in August 2014. He currently chairs the company's Portfolio Committee and is a member of its Audit Committee. Mr. Russell served as chief executive officer of Shire Plc from 2008 until his retirement in April 2013 and was a member of its Board of Directors from 1999 to 2013. From 1999 to 2008, Mr. Russell served as chief financial officer of Shire. Prior to joining Shire, he served at ICI, Zeneca and AstraZeneca. He was a director of InterMune, Inc. from 2011 to 2014. Mr. Russell is a chartered accountant and holds an honorary Doctor of Business Administration from Coventry University, U.K.
Mallinckrodt also announced the planned retirement of Diane Gulyas from its Board in May 2018. Ms. Gulyas also chose not to stand for re-election. During her five years as a director of the company's Board, Ms. Gulyas served as a member of the company's Human Resources and Compensation Committee.
"I am honored to become chairman of the Board and to serve with such accomplished directors," said Mr. Russell. "Mel's service for the past five years spanned an important period in Mallinckrodt's history as it created and executed on its strategic vision as a newly independent company. On behalf of the other Directors, I thank both Mel and Diane for their service. I look forward to welcoming the new Board directors announced separately today, and to helping the company complete its transformation, delivering value to patients and shareholders."
Mallinckrodt is a global business that develops, manufactures, markets and distributes specialty pharmaceutical products and therapies. Areas of focus include autoimmune and rare diseases in specialty areas like neurology, rheumatology, nephrology, pulmonology and ophthalmology; immunotherapy and neonatal respiratory critical care therapies; analgesics and gastrointestinal products. The company's Specialty Brands segment includes branded medicines and its Specialty Generics segment includes specialty generic drugs, active pharmaceutical ingredients and external manufacturing. To learn more about Mallinckrodt, visit www.mallinckrodt.com.
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