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Endo President and CEO to retire, search for a successor begins

Published on 07/11/19 at 09:49am

Endo International has announced its “CEO succession plan”, revealing that the company’s Chief Executive and President Paul V Campanelli has tendered his resignation and will be stepping down from the role.

As a result of this, Campanelli has been immediately appointed as Chairman of the Board, and will continue to serve in his current roles until a replacement can be found. Previous Chairman of the Board Roger Kimmel has been appointed as Senior Independent Director, replacing Dr Sharad Mansukani, who is leaving the position to sit on the board of another company.

A hunt for a new company chief has been launched, with Campanelli actively helping in the search. Once a successor has been found, he will work to ensure a smooth handover of his roles and responsibilities.

Campanelli joined Endo in 2015 as President of Par Pharmaceutical when the company was acquired by Endo to become its US generics arm, before being promoted to CEO, President and a Director on 23 September 2016.

“Paul has left an indelible mark of superior performance and leadership on Endo, and we are grateful for his service as President and Chief Executive Officer,” remarked Kimmel. “Paul's decisive leadership, personal style and unwavering focus have led to strong operating performance at a time of volatility in our industry which has benefited all of Endo's stakeholders.  We are thrilled to be able to retain Paul's expertise going forward in his new role as Chairman of the Board.”

Campanelli also commented on the news: “Over the last three years, we have been laser-focused on executing our strategy to simplify our business, drive productivity improvements and leverage our culture as a differentiator, which has led to strong operating performance despite a challenging external environment. I am proud of what the Endo team has accomplished, and I am confident we have positioned the company for long-term growth and success.  I will continue to be actively involved in my new role as Chairman and look forward to working with the Board to select a new Chief Executive Officer who shares our mission and who will look to build on our momentum.”

Matt Fellows

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