Current Report Filing (8-k)
January 08 2016 - 5:19PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant
to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 8, 2016
Mylan N.V.
(Exact name
of registrant as specified in its charter)
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Netherlands |
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333-199861 |
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98-1189497 |
(State or Other Jurisdiction
of Incorporation) |
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(Commission
File Number) |
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(I.R.S. Employer
Identification No.) |
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Building 4, Trident Place, Mosquito Way,
Hatfield Hertfordshire |
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AL10 9UL |
(Address of Principal Executive Offices) |
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(Zip Code) |
+44 (0) 1707 853 000
(Registrants telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 5.02 |
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On January 8, 2016, John D. Sheehan, Executive Vice President and Chief Financial Officer of Mylan, notified Mylan that he will retire
effective as of April 1, 2016. Mylan issued a press release regarding Mr. Sheehans retirement, which is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
On January 8, 2016, Mylan Inc., a Pennsylvania corporation and wholly-owned subsidiary of Mylan N.V., entered into an Amended and
Restated Executive Employment Agreement with Anthony Mauro, who has been promoted from President, North America to Chief Commercial Officer effective as of January 4, 2016. The Amended and Restated Executive Employment Agreement is effective as
of January 1, 2016 and automatically renews on each anniversary of the effective date unless earlier terminated by Mr. Mauro or Mylan Inc. The Amended and Restated Executive Employment Agreement contains substantially the same terms as his
existing contract, except that Mr. Mauros base salary has been increased to $700,000 in connection with his promotion to Chief Commercial Officer.
The Amended and Restated Executive Employment Agreement also contains terms relating to benefits upon termination of employment, which are
consistent with Mr. Mauros existing agreement. In the event that Mr. Mauros employment is terminated without cause, he would be entitled to a severance payment equal to his base salary, a pro-rata bonus based on actual
performance and one year of continued health benefits. In the event of termination of employment by reason of death or disability, Mr. Mauro or his estate would receive payments and benefits as if his employment had been terminated without
cause, as described above, provided that such payments and benefits will be reduced by any death or disability benefits payable to him under other plans or arrangements. Upon non-renewal, Mr. Mauros employment will terminate as of the
first anniversary of the effective date or the end of any renewal term (as applicable), and he will be entitled to a severance payment equal to his base salary and one year of continued health benefits.
Item 9.01 |
Financial Statements and Exhibits. |
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Exhibit No. |
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Description |
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99.1 |
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Press Release dated January 8, 2016 |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
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MYLAN N.V. |
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Date: January 8, 2016 |
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By: |
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/s/ John D. Sheehan |
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John D. Sheehan |
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Executive Vice President and Chief Financial Officer |
Exhibit 99.1
Mylan CFO John Sheehan to Retire as of April 1, 2016
HERTFORDSHIRE, England and PITTSBURGH Jan. 8, 2016 Mylan N.V. (NASDAQ, TASE: MYL) today announced that John
Sheehan has advised the company of his intention to retire from his position as CFO of Mylan, effective April 1, 2016. Mylans Board of Directors has initiated a search to identify a replacement for Mr. Sheehan.
Mylan Executive Chairman Robert J. Coury commented, John has served with distinction as Mylans CFO for the past
six years, contributing significantly to Mylans success during this time and helping to ensure that we delivered consistently strong financial performance. Importantly, John has demonstrated all of the qualities that make Mylan so special:
dedication to our mission, passionate leadership and an unwavering commitment to doing what is right. I am extremely grateful to John for his service to Mylan and for helping to position the company so well for the future.
Mylans CEO Heather Bresch added, John has been a valued partner since he joined Mylan in 2010 and, during the
next several months, he will help to ensure a smooth transition of his CFO responsibilities while we identify a successor. We have in place the financial strength and flexibility, strong business momentum and deep leadership team to ensure
Mylans continued growth and success. We thank John for his many contributions and wish him all the best in the future.
Mr. Sheehan said, I am very grateful for the opportunity to have served as CFO of Mylan during such an exciting
period of growth and expansion for the company. This has been the most professionally rewarding experience of my career and I am very proud of all that Mylan has accomplished. I am confident that the talented and dedicated team here will continue to
drive strong growth and shareholder value going forward, and I look forward to handing the reins over to my successor.
This press release includes statements that constitute forward-looking statements, including with regard to
Mylan having in place the financial strength and flexibility, strong business momentum and deep leadership team to ensure Mylans continued growth and success and that its talented and dedicated team will continue to drive strong growth and
shareholder value going forward. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Because such statements inherently involve risks and uncertainties, actual future results may
differ materially from those expressed or implied by such forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to: changes in the economic and financial conditions of the businesses of
Mylan; actions and decisions of healthcare and pharmaceutical regulators, and changes in healthcare and pharmaceutical laws and regulations, in the United States and abroad; other uncertainties and matters beyond the control of management; and the
other risks detailed in the companys filings with the Securities and Exchange Commission. The company undertakes no obligation to update these statements for revisions or changes after the date of this release.
Mylan is a global pharmaceutical company committed to setting new standards in
healthcare. Working together around the world to provide 7 billion people access to high quality medicine, we innovate to satisfy unmet needs; make reliability and service excellence a habit; do whats right, not whats easy; and impact
the future through passionate global leadership. We offer a growing portfolio of more than 1,400 generic and branded pharmaceuticals, including antiretroviral therapies on which nearly 50% of people being treated for HIV/AIDS in the developing world
depend. We market our products in approximately 165 countries and territories. Our global R&D and manufacturing platform includes more than 50 facilities, and we are one of the worlds largest producers of active pharmaceutical ingredients.
Every member of our more than 30,000-strong workforce is dedicated to creating better health for a better world, one person at a time. Learn more at mylan.com.
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