Allergan appoints ex-Abbott exec in "Board refreshment" move

Allergan has announced another move in its “refreshment” of its executive Board of Directors with the appointment of Thomas C Freyman, who mostly recently served at Abbott as Executive Vice President, Finance and Administration prior to his retirement from the company in 2017.  

Freyman boasts almost four decades of healthcare and finance experience to the role, and had heavily involved in Abbott’s proprietary pharmaceutical pipeline as well as its medical optics business. Prior to his most recent role at the firm, he had served as Chief Financial Officer (CFO) and Executive Vice President, Finance, appointed to those positions in 2001.

“Since Allergan transitioned from a generics company to a branded biopharmaceutical company, the Allergan Board has been actively involved in a refreshment process to update its membership with the appropriate experience, talent and diversity to more strongly position Allergan as a premier biopharmaceutical company and create value for shareholders," said Chris Coughlin, Lead Independent Director. "Mr Freyman will become the fourth new Director joining the Allergan Board in 16 months as we continue to recruit highly-experienced and qualified members to bring a diversity of perspectives and strengthen the Board with additional industry, scientific and financial experience.”

Allergan Chairman and Chief Executive Officer Brent Saunders commented: “Tom Freyman is an accomplished healthcare industry executive with a strong track record of optimising capital allocation and creating shareholder value. Tom has nearly four decades of industry experience including finance leadership and serving on multiple public boards, making him a highly valuable addition to the Allergan Board of Directors.”

Freyman himself remarked: “I am pleased to join Allergan's Board as the company makes significant progress toward becoming a premier biopharmaceutical leader. I look forward to working with Allergan's Board and management team to help ensure the company delivers increased and sustainable long-term value.”

Additionally, Allergan also revealed that, as part of the executive transformation, Director Patrick O’Sullivan will retire from his position on the company’s Board, on which he has served since 2013. He had joined the company that year when it acquired Warner Chilcott, and had served on the board of that organisation since 2009.

Matt Fellows