Endo implements CEO succession plan

 

Paul V. Campanelli, president and CEO of Endo International plc, in November notified the company’s board of directors of his intention to retire. As a result, the board implemented a CEO succession plan.

Campanelli was appointed chairman of the board effective immediately and continues to serve as president and CEO until his successor is appointed. Roger Kimmel, who has served as chairman, has been appointed senior independent director. Kimmel replaces Dr. Sharad Mansukani, who resigned from the board due to other commitments, including his recent appointment as chairman of the board of another company.

While the board undergoes the process of identifying Campanelli’s successor, he is actively involved in that process and will help facilitate a smooth transition.

“Over the last three years, we have been laser-focused on executing our strategy to simplify our business, drive productivity improvements and leverage our culture as a differentiator, which has led to strong operating performance despite a challenging external environment,” Campanelli says. “I am proud of what the Endo team has accomplished, and I am confident we have positioned the company for long-term growth and success. I will continue to be actively involved in my new role as chairman and look forward to working with the board to select a new chief executive officer who shares our mission and who will look to build on our momentum.”

According to Kimmel, “Paul has left an indelible mark of superior performance and leadership on Endo, and we are grateful for his service as president and chief executive officer. Paul’s decisive leadership, personal style and unwavering focus have led to strong operating performance at a time of volatility in our industry which has benefited all of Endo’s stakeholders. We are thrilled to be able to retain Paul’s expertise going forward in his new role as chairman of the board.”

Endo is a highly focused generics and specialty branded pharmaceutical company delivering quality medicines.