ENDO ANNOUNCES CEO TRANSITION
Endo, Inc. (OTCQX: NDOI) has announced a CEO transition. The Board of Directors has initiated a search for a new CEO, with Spencer Stuart assisting in the process. Blaise Coleman will depart as President & CEO and from the Board on August 29, 2024. Scott Hirsch, who joined the Board in April 2024, has been appointed as Interim CEO.
Hirsch brings over 20 years of experience in healthcare and was formerly the CEO of Solta Medical. The Board aims to find a new chief executive to guide Endo through its next phase of development, including the goal of re-listing on a national stock exchange. The company is focusing on execution across its branded, sterile injectables, and generics portfolios to position for long-term growth.
Endo, Inc. (OTCQX: NDOI) ha annunciato un cambio di CEO. Il Consiglio di Amministrazione ha avviato la ricerca per un nuovo CEO, con l'assistenza di Spencer Stuart nel processo. Blaise Coleman lascerà la carica di Presidente e CEO e dal Consiglio il 29 agosto 2024. Scott Hirsch, entrato nel Consiglio ad aprile 2024, è stato nominato CEO ad interim.
Hirsch porta con sé oltre 20 anni di esperienza nel settore sanitario ed è stato in precedenza il CEO di Solta Medical. Il Consiglio mira a trovare un nuovo direttore esecutivo per guidare Endo nella sua prossima fase di sviluppo, compreso l'obiettivo di ritornare a una borsa valori nazionale. L'azienda si sta concentrando sull'esecuzione dei suoi portafogli di prodotti branded, iniettabili sterili e generici per posizionarsi per una crescita a lungo termine.
Endo, Inc. (OTCQX: NDOI) ha anunciado una transición de CEO. La Junta Directiva ha iniciado la búsqueda de un nuevo CEO, con Spencer Stuart asistiendo en el proceso. Blaise Coleman dejará su cargo como Presidente y CEO y del Consejo el 29 de agosto de 2024. Scott Hirsch, quien se unió al Consejo en abril de 2024, ha sido nombrado CEO interino.
Hirsch aporta más de 20 años de experiencia en el cuidado de la salud y fue anteriormente el CEO de Solta Medical. La Junta tiene como objetivo encontrar un nuevo director ejecutivo para guiar a Endo en su próxima fase de desarrollo, incluido el objetivo de volver a listarse en una bolsa de valores nacional. La empresa se está enfocando en la ejecución de sus portafolios de productos de marca, inyectables estériles y genéricos para posicionarse para un crecimiento a largo plazo.
Endo, Inc. (OTCQX: NDOI)는 CEO 전환을 발표했습니다. 이사회는 새로운 CEO를 찾기 위한 작업을 시작했으며, 이 과정에서 스펜서 스튜어트가 도움을 주고 있습니다. 블레이지 콜먼은 2024년 8월 29일에 사장 및 CEO 자리와 이사회에서 물러납니다. 이사회에 2024년 4월에 합류한 스콧 히르쉬가 임시 CEO로 임명되었습니다.
히르쉬는 의료 분야에서 20년 이상의 경험을 가지고 있으며, 이전에는 솔타 메디컬의 CEO로 재직했습니다. 이사회는 엔도가 다음 개발 단계로 나아갈 수 있도록 새로운 최고 경영자를 찾는 것을 목표로 하고 있으며, 국가 증권 거래소에 재상장하는 것을 목표로 하고 있습니다. 회사는 장기 성장을 위해 브랜드, 멸균 주사제 및 제네릭 포트폴리오에서 실행에 집중하고 있습니다.
Endo, Inc. (OTCQX: NDOI) a annoncé une transition de PDG. Le Conseil d'Administration a lancé une recherche pour un nouveau PDG, avec l'assistance de Spencer Stuart dans le processus. Blaise Coleman quittera son poste de Président et PDG ainsi que du Conseil le 29 août 2024. Scott Hirsch, qui a rejoint le Conseil en avril 2024, a été nommé PDG intérimaire.
Hirsch apporte plus de 20 ans d'expérience dans le secteur de la santé et a été auparavant PDG de Solta Medical. Le Conseil vise à trouver un nouveau directeur général pour guider Endo lors de sa prochaine phase de développement, y compris l'objectif de se réinscrire sur une bourse nationale. L'entreprise se concentre sur l'exécution de ses portefeuilles de produits de marque, de solutions injectables stériles et de génériques pour favoriser une croissance à long terme.
Endo, Inc. (OTCQX: NDOI) hat einen CEO-Wechsel angekündigt. Der Vorstand hat eine Suche nach einem neuen CEO eingeleitet, wobei Spencer Stuart den Prozess unterstützt. Blaise Coleman wird am 29. August 2024 als Präsident und CEO sowie aus dem Vorstand ausscheiden. Scott Hirsch, der im April 2024 in den Vorstand eingetreten ist, wurde zum Interim-CEO ernannt.
Hirsch bringt über 20 Jahre Erfahrung im Gesundheitswesen mit und war zuvor CEO von Solta Medical. Der Vorstand hat das Ziel, einen neuen Geschäftsführer zu finden, der Endo durch die nächste Entwicklungsphase führt, einschließlich des Ziels, an einer nationalen Börse wieder gelistet zu werden. Das Unternehmen konzentriert sich darauf, in seinen Marken-, sterilen Injektions- und Generika-Portfolios erfolgreich zu arbeiten, um sich für langfristiges Wachstum zu positionieren.
- Appointment of experienced Interim CEO Scott Hirsch
- Board's focus on finding a new CEO to guide future growth
- Goal of re-listing on a national stock exchange
- Strong balance sheet and diversified portfolio of medicines
- Pipeline of innovative and differentiated product candidates
- Departure of current President & CEO Blaise Coleman
- Uncertainty during leadership transition period
- Currently trading on OTCQX market, not a major exchange
Board to Initiate CEO Search Process; Scott Hirsch Appointed as Interim CEO
Scott Hirsch has been appointed to serve as Endo's Interim CEO in the transition period while the search is ongoing.
Mr. Hirsch joined the Endo Board of Directors in April 2024. He has over 20 years of experience in healthcare, investment management, and financial services and was formerly the CEO of Solta Medical, where he led growth of the global business through an expansion cycle. Prior to Solta, Mr. Hirsch was the President of the Ortho Dermatologics and OraPharma business segments and the Chief Business Officer of Bausch Health/Bausch & Lomb.
Paul Herendeen, Chairman of the Board of Directors, said, "Following the completion of our reorganization, Endo is strategically well-positioned to become a vibrant growth company with a strong balance sheet, a broad, diversified portfolio of on-market medicines, and a pipeline of innovative and differentiated product candidates. As we work toward our goal of re-listing on a national stock exchange, the Board is focused on identifying a new chief executive with the experience, skill set and strategic vision to guide Endo through its next phase of development."
Mr. Herendeen continued, "On behalf of the Board of Directors, we thank Blaise for his successful leadership of Endo over the last four years, which were integral to establishing our strong foundational footing following our restructuring, and we welcome Scott to lead the Company during this transition period. We are confident that Scott's deep industry expertise and significant operating experience will enable a smooth and orderly transition process."
"I'd like to thank Blaise for his many contributions to Endo and wish him well in his future endeavors," said Interim CEO Scott Hirsch. "In the near term, our priority will be continued focus on execution across our branded, sterile injectables and generics portfolios as we position the Company for long-term growth. I look forward to working closely with Endo's dedicated team as we transition to new leadership."
As previously announced, Endo will hold a conference call today, August 27, 2024, at 8:00 a.m. ET to discuss the Company's second quarter 2024 financial results.
Cautionary Note Regarding Forward-Looking Statements
This release contains certain statements, claims, estimates, predictions and other information prepared and provided by Endo, including, among others, statements by Messrs. Herendeen and Hirsch with respect to the anticipated strategy and future performance of Endo and its subsidiaries. Such statements include or are based on "forward looking statements" including, but not limited to, statements relating to financial expectations or guidance and any other statements that refer to expected, estimated or anticipated future results or that do not relate solely to historical facts. Statements including words such as "believes," "expects," "anticipates," "intends," "estimates," "plan," "will," "may," "look forward," "intends," "guidance," "future," "potential" or similar expressions are forward-looking statements. Because these statements reflect Endo's current views, expectations and beliefs concerning future events, they involve risks and uncertainties, some of which Endo may not currently be able to predict. Although Endo believes that these forward-looking statements and other information are based upon reasonable assumptions and expectations, readers should not place undue reliance on these or any other forward-looking statements and information. Actual results may differ materially and adversely from current expectations based on a number of factors, including, among other things, the following: the effects of the emergence of Endo International plc's ("EIP") operating assets from the Chapter 11 financial restructuring process, including as it relates to the accounting for the effects of EIP's Plan of Reorganization and the application of fresh start accounting; changes in competitive, market or regulatory conditions; changes in legislation or regulations; the ability to obtain and maintain adequate protection for intellectual property rights; the impacts of competition such as those related to XIAFLEX®; the timing and uncertainty of the results of both the research and development and regulatory processes; litigation outcomes; health care and cost containment reforms, including government pricing, tax and reimbursement policies; the performance including the approval, introduction and consumer and physician acceptance of current and new products; the ability to develop and expand our product pipeline and to continue to develop the market for XIAFLEX® and other branded or unbranded products; the effectiveness of advertising and other promotional campaigns; the risks inherent in transitioning the role of chief executive officer, including among other things, the ability to successfully recruit and retain key employees and third-party relationships, and the timely and successful implementation of any strategic priorities. Endo assumes no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise, except as may be required under applicable securities laws.
About Endo
Endo is a diversified specialty pharmaceutical company boldly transforming insights into life-enhancing therapies. Our passionate team members collaborate to develop and deliver these essential medicines. Together, we are committed to helping everyone we serve live their best life. Learn more at www.endo.com or connect with us on LinkedIn.
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SOURCE Endo, Inc.
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