Four Directors Added to Board Bring Seasoned
Experience in Pharmaceuticals, Healthcare, Finance and
Operations
Paul Bisaro Returns as Board
Chair
Siggi Olafsson Will Continue as President, CEO
and Board Member
DUBLIN, Feb. 2, 2024
/PRNewswire/ -- Mallinckrodt plc
("Mallinckrodt" or the "Company"), a
global specialty pharmaceutical company, today announced the
appointments of Paul Bisaro,
Katina Dorton, Abbas Hussain and
Wesley Wheeler to its Board of
Directors, effective immediately. Mr. Bisaro has also been
reappointed to his previous role as Board Chair. In addition, the
Company announced that Siggi
Olafsson has entered into a new employment agreement and
will continue in his roles as Mallinckrodt's President and Chief Executive
Officer and a member of the Board.
Mr. Olafsson said, "The actions we took in 2023 have made
Mallinckrodt a stronger company. As we
move forward with renewed determination to help serve public health
needs and deliver for our patients, we are thrilled to welcome back
Paul as Board Chair. He brings deep familiarity with our business
and our team, and we know we will benefit greatly from his
insights. We are equally pleased about the appointments of Katina,
Abbas and Wes. Our ability to attract these accomplished directors
is a testament to what we have achieved so far and the
opportunities ahead for Mallinckrodt."
Select professional highlights of Mallinckrodt's new directors include:
- Paul Bisaro is a
healthcare industry leader with more than three decades of
leadership experience at generic and branded pharmaceutical
companies. He served as Mallinckrodt's
Board Chair from June 2022 to
November 2023. Mr. Bisaro previously
served as President, CEO and a director of Impax Laboratories,
Executive Chairman of Amneal Pharmaceuticals, Executive Chairman of
Allergan, President and CEO of Actavis (formerly Watson
Pharmaceuticals), and President, Chief Operating Officer and a
director of Barr Pharmaceuticals. Mr. Bisaro serves on the boards
of Zoetis and Myriad Genetics and previously served on the boards
of TherapeuticsMD and Zimmer Biomet.
- Katina Dorton has more
than 20 years of finance and healthcare experience across
fundraising, mergers and acquisitions, and business development,
most recently serving as Chief Financial Officer of NodThera, a
private biotechnology company. She previously served as CFO of
Repare Therapeutics, AVROBIO and Inmatics and, earlier in her
career, was a healthcare investment banker at Morgan Stanley and
Needham. Ms. Dorton serves on the boards of Fulcrum Therapeutics
and TScan Therapeutics and previously served on the boards of
Pandion Therapeutics and US Ecology, among others.
- Abbas Hussain has more than 30 years of leadership and
operating experience in healthcare, most recently serving as CEO of
Vifor. He previously served as GlaxoSmithKline's Global President,
Pharmaceuticals & Vaccines, and, earlier in his career, in
various leadership roles at Eli Lilly and Company. Mr. Hussain also
has served on the boards of Teva Pharmaceuticals, Aspen Pharmacare,
Vifor, ViiV Healthcare and Cochlear, among others.
- Wes Wheeler has more than
40 years of diversified leadership experience in healthcare,
including business turnarounds and transformations, manufacturing,
marketing, engineering, R&D and supply chain. He is currently a
Pharmaceutical Services Consultant to KKR. He previously served as
President of UPS Healthcare and its subsidiary Marken LLP, CEO,
President and a director of Patheon (now a Thermo Fisher Scientific
company), and President, R&D and Global Manufacturing at
Valeant Pharmaceuticals. Earlier in his career, he held various
leadership roles at GlaxoSmithKline and ExxonMobil in engineering,
marketing and manufacturing.
Mr. Bisaro said, "Mallinckrodt plays an important role addressing
unmet patient needs and providing therapies with high clinical
value. I am pleased to rejoin the Board and once again work
alongside Siggi, the Executive Committee, as well as my colleagues
on the Board of Directors, to continue this meaningful work and
further improve execution and performance. We are all fully focused
on unlocking Mallinckrodt's full
potential and delivering benefits to patients, employees,
shareholders and all other stakeholders."
With the appointment of Messrs Bisaro, Hussain and Wheeler and
Ms. Dorton, Mallinckrodt's Board
comprises seven directors. In addition to Mr. Olafsson, the other
incumbent directors are David
Stetson and Jon Zinman, who
were appointed in November 2023.
About Mallinckrodt
Mallinckrodt is a global business
consisting of multiple wholly owned subsidiaries that develop,
manufacture, market and distribute specialty pharmaceutical
products and therapies. The Company's Specialty Brands reportable
segments' areas of focus include autoimmune and rare diseases in
specialty areas like neurology, rheumatology, hepatology,
nephrology, pulmonology, ophthalmology, and oncology; immunotherapy
and neonatal respiratory critical care therapies; analgesics; and
gastrointestinal products. Its Specialty Generics reportable
segment includes specialty generic drugs and active pharmaceutical
ingredients. To learn more about Mallinckrodt, visit www.mallinckrodt.com.
CONTACTS
Investor Relations
Daniel
Speciale
Senior Vice President, Finance and CFO, Specialty Generics
+1-314-654-3638
daniel.speciale@mnk.com
Derek Belz
Vice President, Investor Relations
+1-314-654-3950
derek.belz@mnk.com
Media
Michael Freitag /
Aaron Palash / Aura Reinhard / Catherine Simon
Joele Frank, Wilkinson Brimmer
Katcher
+1-212-355-4449
Mallinckrodt, the "M" brand mark and
the Mallinckrodt Pharmaceuticals logo are trademarks of a
Mallinckrodt company. Other brands are
trademarks of a Mallinckrodt company or
their respective owners. ©2024.
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SOURCE Mallinckrodt plc