Perrigo Announces New Consumer Self-Care Americas (CSCA) Leadership

Rhea-AI Summary

Perrigo Company plc (NYSE: PRGO) has appointed Jim Dillard as the new EVP and President of Consumer Self-Care Americas (CSCA), effective immediately. Dillard, previously EVP and Chief Scientific Officer, will continue reporting to CEO Murray Kessler. The company has completed its transformation to focus on consumer self-care and resolved an Irish tax uncertainty. Kessler emphasized the importance of profitable growth, while Dillard expressed enthusiasm for leveraging innovation and improving margins. Rich Sorota has mutually separated from the company.

Positive

• Jim Dillard's appointment as EVP and President of CSCA aims to enhance revenue growth and improve margins.
• Completion of transformation from healthcare to consumer self-care, reducing uncertainty from Irish tax issues.

Negative

• None.

DUBLIN, Oct. 5, 2021 /PRNewswire/ -- Perrigo Company plc (NYSE; TASE: PRGO) ("Perrigo" or the "Company"), a leading provider of consumer self-care products, today announced that Jim Dillard, currently Executive Vice President ("EVP") and Chief Scientific Officer, has been named EVP and President, CSCA, effective immediately. In his new role, Mr. Dillard will continue to report to Murray Kessler.

Perrigo President and Chief Executive Officer Murray S. Kessler said, "Perrigo has now completed its transformation from healthcare to consumer self-care and has removed the uncertainty from the Irish Tax Notice of Assessment. Going forward, our focus must and will be on delivering profitable growth in line with our consumer peers. Jim Dillard's deep supply chain, manufacturing, R&D, innovation, and regulatory experience will allow him to continue CSCA's long history of revenue growth while at the same time enhancing margins in the segment. Jim's passion for Perrigo and our self-care strategy, along with his deep experience, proven track record and strong leadership skills, make him uniquely qualified to lead this business."

Mr. Dillard commented, "I am very enthusiastic about the Company's future and share a deep passion for rapidly delivering new products and innovation that delight our customers and consumers. I am equally excited about the significant opportunities for CSCA margin expansion through further cost and supply chain efficiencies, in addition to our innovation initiatives. I am confident that CSCA's strong consumer business model led by our talented team will achieve long-term profitable growth."

Rich Sorota and the Company have agreed to a mutual separation. Mr. Kessler noted, "We thank Rich for his service since joining the Company through the acquisition of Ranir and wish him continued success."

Jim Dillard Biography

Jim Dillard was named EVP and Chief Scientific Officer for Perrigo in January 2019. Mr. Dillard joined Perrigo from Altria Group, Inc., where he served as Senior Vice President, Research, Development and Sciences and Chief Innovation Officer. During his tenure with Altria Group, Mr. Dillard led the creation of the Regulatory Affairs function in 2009 and also served as Chief Innovation Officer for Altria Client Services and Senior Vice President of Research, Development & Regulatory Affairs, for Altria Group. Mr. Dillard worked for UST Inc. from 2001 through 2008 where he was President of U.S. Smokeless Tobacco Manufacturing Company (USSTMC) and was responsible for all manufacturing, supply chain, quality and engineering, in addition to the company's Science and Technology organization. Rickard Seeds and GenApps, subsidiaries of UST, Inc., also reported to Mr. Dillard.  Prior to joining UST, Inc., Mr. Dillard worked for the U.S. Food and Drug Administration (FDA) between 1987 and 2001. There he served as Director of the Division of Cardiovascular and Respiratory Devices, as well as in various leadership roles in the Center for Devices and Radiological Health and the Office of Device Evaluation.  

About Perrigo

Perrigo Company plc (NYSE; TASE: PRGO) is a leading provider of Quality, Affordable 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. Led by its consumer self-care strategy, Perrigo is the largest store brand OTC player in the U.S. in the categories in which it competes through more than 9,000 SKUs under customer 'own brand' labels. Additionally, Perrigo is a Top 10 OTC company by revenue in Europe, where it markets more than 200 branded OTC products throughout 28 countries. Visit Perrigo online at www.perrigo.com. 

Perrigo Forward-Looking Statements

Certain statements in this press release are "forward-looking statements." These statements relate to future events or the Company's future financial performance and involve known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, performance or achievements of the Company or its industry to be materially different from those expressed or implied by any forward-looking statements. In some cases, forward-looking statements can be identified by terminology such as "may," "will," "could," "would," "should," "expect," "forecast," "plan," "anticipate," "intend," "believe," "estimate," "poised," "predict," "potential" or the negative of those terms or other comparable terminology. The Company has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While the Company believes these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond the Company's control, including: the timing of the formal settlement documentation relating to the tax settlement with Irish Revenue; the sources of funding for the settlement amount; the benefits of settling the disputed assessment, and any such risks or uncertainties that may arise in connection with any challenge to the arbitration award. These and other important factors, including those discussed under "Risk Factors" in the Company's Form 10-K for the year ended December 31, 2020, as well as the Company's subsequent filings with the United States Securities and Exchange Commission ("SEC"), may cause actual results, performance or achievements to differ materially from those expressed or implied by these forward-looking statements. The forward-looking statements in this press release are made only as of the date hereof, and unless otherwise required by applicable securities laws, the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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SOURCE Perrigo Company plc

FAQ

What recent leadership change occurred at Perrigo Company?

Jim Dillard has been named EVP and President of Consumer Self-Care Americas effective immediately.

What key focus area has Perrigo Company shifted to?

Perrigo has completed its transition from healthcare to consumer self-care products.

How does Jim Dillard's experience benefit Perrigo?

Dillard's experience in supply chain, R&D, and innovation is expected to drive revenue growth and enhance margins.

What was resolved concerning Perrigo's tax situation?

Perrigo has removed uncertainty related to the Irish Tax Notice of Assessment.

Who has mutually separated from Perrigo Company?

Rich Sorota has agreed to a mutual separation with the company.