Perrigo Announces Executive Transition for its Consumer Self-Care International (CSCI) Business

Rhea-AI Summary

Perrigo Company plc announced an executive transition within its Consumer Self-Care International (CSCI) Business. Svend Andersen, EVP and President of CSCI, will retire in December, with Roberto Khoury taking over. Khoury, a seasoned consumer health professional, will bring his vast experience to lead the CSCI segment. Andersen will work alongside Khoury until August for a smooth handover. Khoury's background includes leadership roles at Kenvue and L'Oréal, emphasizing his expertise in the consumer products industry.

Positive

• Roberto Khoury's appointment brings a wealth of experience in the consumer health sector, contributing to Perrigo's growth and innovation strategies.

• Mr. Andersen's successful leadership at CSCI has positioned the business for continued success, focusing on innovation and brand extensions.

Negative

• Loss of Svend Andersen's leadership and experience could present challenges during the transition period and beyond for Perrigo's CSCI segment.

• There might be uncertainty regarding the impact of the executive transition on Perrigo's overall growth and development in the near future.

Svend Andersen, EVP and President Consumer Self-Care International (CSCI), to Retire

Roberto Khoury, a Global Branded Consumer Health Veteran, Appointed to Lead the Business

DUBLIN, May 7, 2024 /PRNewswire/ -- Perrigo Company plc (NYSE: PRGO), a leading provider of Consumer Self-Care Products, today announced that Svend Andersen, Executive Vice President and President, Consumer Self-Care International (CSCI), intends to retire from the Company in December of this year. Roberto Khoury, a consumer self-care veteran with more than 20 years of experience cultivating successful branded consumer products and pan-European brands, will be appointed to lead Perrigo's CSCI segment. To ensure business continuity and a seamless transition, Mr. Andersen will continue to lead CSCI, working closely with Mr. Khoury, until August 1, 2024, at which point Mr. Khoury will assume the role of Executive Vice President and President of CSCI, and Mr. Andersen will step down to serve in an advisory role until his retirement, which is expected on December 31, 2024.

Prior to joining Perrigo, Mr. Khoury was responsible for running a $1.4 billion consumer products business at Kenvue (formerly a part of Johnson & Johnson) as Senior Vice President and General Manager of their skin care portfolio, including brand leadership responsibilities for Neutrogena^®, Neostrata^®, Clean and Clear^®, and Rogaine^®. Prior to this role, Khoury led Kenvue's consumer brands in Europe. Before his time at Kenvue, Mr. Khoury spent 13 years at L'Oréal, where he held several leadership roles in the consumer space that included stints in growing pan-European line extensions of leading brands.

"I am thrilled to join Perrigo and contribute to the Company's increasing success in the self-care industry," said Mr. Khoury. "Perrigo has a strong reputation for delivering high-quality consumer products, and I am excited to work with the talented team, especially Svend, to further strengthen the Company's well-known European brand presence. Together, we will continue to provide innovative solutions that improve the health and well-being of consumers around the world."

During his seven-year tenure, Mr. Andersen played a pivotal role in the success of the CSCI business, focusing the portfolio by significantly reducing the number of SKUs, concentrating business efforts on innovation and brand extensions, and making significant contributions to Perrigo's overall growth and development. His leadership, brand management and overall commitment have CSCI well-positioned for continued success.

"I feel very privileged to have led such a diverse, talented and passionate team, which I am truly going to miss. It has been an incredible journey with Perrigo, and I am immensely proud of what we have accomplished together," commented Mr. Andersen. "I have full confidence that Roberto is the right leader to advance the success of CSCI and all of Perrigo, and I wish him and the team the very best for the future."

Perrigo President and Chief Executive Officer Patrick Lockwood-Taylor commented, "On behalf of the Board of Directors, the management team and the more than 9,000 Perrigo colleagues worldwide, I want to express our gratitude to Svend for his invaluable contributions and dedication to the growth and success of the organization. His leadership and commitment have helped position CSCI and Perrigo as a global leader in self-care and I congratulate him on his well-earned retirement."

Lockwood-Taylor concluded, "We are delighted to welcome Roberto to Perrigo, and I am confident that his fresh perspectives and deep consumer insights will focus the CSCI business on scale brands, while delighting consumers with winning innovation. We are also thrilled to have him as part of the leadership team as we continue on our journey to consumerize, simplify and scale One Perrigo."    

About Perrigo 

Perrigo Company plc (NYSE: PRGO) is a leading provider of Consumer Self-Care Products and over-the-counter (OTC) health and wellness solutions that enhance individual well-being by empowering consumers to proactively prevent or treat conditions that can be self-managed. Visit Perrigo online at www.perrigo.com. 

Forward-Looking Statements

This press release includes certain "forward-looking statements" within the meaning of the Private Litigation Securities Reform Act of 1995, as amended. Forward-looking statements relate to future events and involve known and unknown risks, uncertainties and other factors—many of which beyond the Company's control—that may cause the actual results, performance or achievements of the Company to be materially different from its current expectations, assumptions, estimates and projections. Interested persons are urged to consult the Company's filings with the United States Securities and Exchange Commission, available at https://investor.perrigo.com/sec-filings, for a discussion of the Company's business and financial condition and certain material trends, risks, uncertainties and other factors relating thereto, including those discussed under "Risk Factors" in the Company's Form 10-K for the year ended December 31, 2023.

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SOURCE Perrigo Company plc

FAQ

Who is retiring from Perrigo's Consumer Self-Care International (CSCI) Business?

Svend Andersen, EVP and President of CSCI, is retiring from Perrigo in December.

Who will be leading the CSCI segment after Svend Andersen's retirement?

Roberto Khoury, a Global Branded Consumer Health Veteran, will take over the role.

When will Roberto Khoury assume the role of Executive Vice President and President of CSCI?

Roberto Khoury will officially take over as Executive Vice President and President of CSCI on August 1, 2024.

What is the stock symbol for Perrigo Company plc?

The stock symbol for Perrigo Company plc is PRGO.

What is Perrigo's focus in the consumer sector?

Perrigo is a leading provider of Consumer Self-Care Products and over-the-counter (OTC) health and wellness solutions.

Where can I find more information about Perrigo Company plc?

More information about Perrigo Company plc can be found on their website at www.perrigo.com.