Actavis plc announced a new senior management team that will lead the global
pharmaceutical company following the successful close of the acquisition of
Allergan, Inc., anticipated in the second quarter of 2015. Brent Saunders
will continue to lead Actavis as CEO and President and a member of the Board of
Directors. Paul Bisaro will remain Executive Chairman of the Board of
Directors. Allergan’s CEO David Pyot, will walk away with a $34,955,619 golden parachute. Mr. Saunders will lead an expanded senior management team comprised of leaders from both Actavis and Allergan, designed to further enhance the Company's position as the fastest growing and most dynamic growth pharmaceutical company in global healthcare.
"We
are committed to realizing the full potential of the historic combination of
Actavis and Allergan beginning on Day 1, and announcing the proposed leadership
of the combined company is a critical step in achieving that objective,"
said Saunders. "The management structure we are announcing today
will ensure that we capitalize on the value of Allergan's world-renowned
businesses and the proven track record of the leaders of its powerful and
critically important franchises. I am particularly pleased to announce
that following the close Douglas Ingram, President, Allergan, will continue as
a Special Advisor to me. The combined company will benefit from Doug's
experience and expertise as we unite the two businesses, and help us ensure
that we integrate the two companies while recognizing and capitalizing on
Allergan's unique product portfolio and market leadership positions. In this
structure we demonstrate our commitment to combine the 'best of the best'
talent from both organizations.
