OR WAIT null SECS
Actavis announced a senior leadership team comprised of both Actavis and Allergan leaders designed to facilitate dynamic company growth.
Actavis announced on Dec. 16, 2014 the planned senior management team that will lead the company after the acquisition of Allergan is completed. As part of the proposed team, Brent Saunders will continue to lead Actavis as CEO and president and as a member of the board of directors, with Paul Bisaro remaining the executive chairman of the board. Following the acquisition, the senior management team will be expanded to include leaders from both Actavis and Allergan.
"Although we are acting rapidly in announcing these appointments, we are making them following extensive discussions with David Pyott, Chairman and CEO of Allergan, and his executive leadership team. We believe that by announcing the proposed structure of the combined organization our shareholders, customers and employee teams will better appreciate our commitment to create the most dynamic company in Growth Pharma and will share our confidence in seamless execution of this combination beginning on Day 1," Saunders said in a press release.
As part of the announcement, Actavis said that following the close of the acquisition, the global brand sales and marketing business would be restructured into three organizations: International Brands, Branded Pharma, and Allergan Medical. The three organizations will be lead by a team of both Actavis and Allergan professionals who will all report directly to Brent Saunders:
The other management positions announced are all to report to Brent Saunders, and will cover a variety of R&D and global concerns. The new company made a commitment of more than $1 billion to brand product development. Given this investment, it was announced that the new EVP position of Branded R&D will be filled by Actavis’ C. David Nicholson, PhD, senior vice-president, Global Brand R&D.
Robert Stewart, Actavis COO, will become the new EVP of Actavis and president of Generics and Global Operations. Saunders commented saying, "By aligning generic sales and marketing, generic research and development and global operations under Bob, we will ensure that these critical functions continue to operate together with the strength and fluidity that has driven our generics business to the world-leading position in which it stands today. Under this nimble structure, we will maintain our exceptional responsiveness to changing commercial needs, allowing us to maximize market opportunities and continue to drive strong performance within the business."