Dr. Jorge Gallardo Ballart announces his intention to retire from his positions of President of the Board of Directors and Board member of Almirall

Rhea-AI Summary

Dr. Jorge Gallardo Ballart will retire as Chairman of Almirall's Board of Directors and as a board member effective from the upcoming General Shareholders Meeting on May 6, 2022. Mr. Carlos Gallardo Piqué, currently Vice-President of the Board, has been appointed as the new Chairman. Carlos has extensive international healthcare experience, including a tenure at Pfizer and leadership roles at Almirall. He aims to enhance the company’s growth in Medical Dermatology. Dr. Gallardo recognized the company's promising future under the new leadership.

Positive

• Carlos Gallardo Piqué brings extensive international healthcare experience to his new role.
• His background in venture capital and digital health may foster innovation within Almirall.

Negative

• The transition may raise concerns about continuity in leadership with Dr. Gallardo's departure.

BARCELONA, Feb. 21, 2022 /PRNewswire/ -- Almirall, S.A. (ALM) in accordance with the Stock Exchange Act, communicates the following:

Dr. Jorge Gallardo Ballart has announced in the Board of Directors' session on Friday 18^th February, his intention to retire from his positions of Chairman of the Board of Directors and Board member with effect as of the end of the General Shareholders Meeting of Almirall, S.A. that will take place next 6 May 2022. In light of  this decision, which has been carefully planned, the Board of Directors has appointed Mr. Carlos Gallardo Piqué, current Vice-President of the Board, as President of the Board of Directors of Almirall with effect from the end of the aforementioned General Shareholders Meeting. Mr. Carlos Gallardo has accepted his nomination.

Carlos has broad international healthcare experience. He started his pharmaceutical career in Pfizer prior to joining Almirall where he held positions of increasing seniority over nearly 10 years. Since leaving Almirall as General Manager of the UK and Ireland in 2013, Carlos has served as a member of Almirall's Board of Directors. In addition, he has established a successful career as a venture capitalist investing in digital health. He is the founder and CEO of CG Health Ventures where he invests in and builds digital health companies that match technology and talent to solve for challenges in healthcare. He serves on a number of boards of promising early stage digital health and health technology companies. Carlos holds an MS in industrial Engineering from the Universitat Politècnica de Catalunya and an MBA from Stanford University's Graduate School of Business.

Mr. Carlos Gallardo said: "I am very pleased  that I will assume this new role as Chairman of Almirall and I´ll keep working to bring the company to the next level as a Medical Dermatology leader. Almirall is poised for growth and it is exciting to be part of this amazing journey. I am looking forward to working with the management team, the employees and Board of Directors in bringing innovative products in Medical Dermatology to improve the quality of patients' lives and grow the company going forward."

The Board of Directors wishes to thank Dr. Jorge Gallardo for his immense contribution to Almirall. For over 50 years he has committed himself to creating one of Spain's most successful R&D based companies and has led the company with great distinction.

Dr. Jorge Gallardo stated: "It has been a great privilege and pleasure to lead Almirall. We have had major successes and faced many challenges. I believe the company now has an exciting future ahead of it and that we have in place the management team and Board of Directors who can deliver this. I wish Carlos much success in his new role and in this new chapter of the company."

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SOURCE Almirall, S.A.

FAQ

Who will replace Dr. Jorge Gallardo Ballart as Chairman of Almirall?

Mr. Carlos Gallardo Piqué will take over as Chairman after the General Shareholders Meeting on May 6, 2022.

What experience does Carlos Gallardo Piqué bring to Almirall?

Carlos has nearly a decade of experience at Almirall and has a successful background in venture capital and digital health.

What are the implications of Dr. Gallardo's retirement for Almirall?

Dr. Gallardo's retirement may lead to concerns about continuity, though Carlos is expected to drive growth in Medical Dermatology.

When is the General Shareholders Meeting where the leadership change will take effect?

The General Shareholders Meeting is scheduled for May 6, 2022.

What did Dr. Gallardo say about his tenure at Almirall?

Dr. Gallardo expressed pride in leading Almirall through successes and challenges, believing the company has a bright future ahead.