- Murray S. Kessler, former Chief Executive Officer and President at the Lorillard Tobacco Company, appointed President, CEO and member of the Board of Directors effective immediately
- Proven track record for over 30 years in leadership positions among multiple consumer products goods companies
- Experience aligned with Perrigo’s consumer-focused strategy and commitment to separation of the Rx business
- Uwe Roehrhoff steps down as President, CEO and board member; will remain available to ensure a smooth transition
Perrigo Company plc (NYSE: PRGO), a leading global provider of Quality Affordable Healthcare Products®, today announced the appointment of Murray S. Kessler as President, CEO and member of the Board of Directors, effective immediately.
Chairman of the Board of Directors, Rolf Classon, stated, “We are excited to have Murray Kessler, a highly successful business executive, join Perrigo as its next CEO. Given the decision to separate the Rx pharmaceuticals business and pursue a consumer-focused strategy, the Board is looking forward to partnering with him to develop Perrigo’s strategic plan. Murray joins Perrigo with more than 30 years of leadership experience in growing consumer products companies and managing businesses in a regulated environment. He has advanced corporate strategy through innovation, inorganic opportunities, and continuous portfolio improvement. We are confident that his track record in driving shareholder value and running highly successful businesses will advance Perrigo’s consumer strategy and help the Company deliver on our commitments to consumers and customers.”
Mr. Kessler most recently served as the Chairman of the Board of Directors and CEO of Lorillard Tobacco Company (2010-2015). As a leading innovator in the industry, Mr. Kessler spearheaded the company’s expansion into new and emerging categories, growing Lorillard’s market capitalization from approximately $9 billion to approximately $28 billion during his tenure. Prior to joining Lorillard, Mr. Kessler served as Vice Chair of Altria, Inc. and President and CEO of UST Inc., a wholly owned subsidiary of Altria since 2009. Mr. Kessler originally joined UST in 2000 and was promoted to the role of President of the division within one year. In 2005, Mr. Kessler was appointed COO of UST, and served as CEO from 2007 to 2009. During his tenure, market capitalization grew from approximately $2.5 billion to approximately $12.7 billion.
Before joining UST, Mr. Kessler had more than 18 years of consumer packaged goods experience with several well-known consumer companies, including Vlasic Foods International, Campbell Soup Company and The Clorox Company. He earned a Bachelor of Business Administration degree from Villanova University and a Master of Business Administration degree from the New York University Stern School of Business.
Newly appointed CEO and President of Perrigo, Murray Kessler, commented, “This is a rare opportunity to drive winning results with a passionate and committed team in a high potential, consumer focused company that holds a leadership position in a broad portfolio of sizeable and recognizable categories. My experience in working with highly regulated consumer products reinforces my belief in this opportunity and it is for these reasons that I have chosen to once again take on the deep commitment of being a public company CEO. I look forward to working with the talented Perrigo leadership team and the Board to put a plan in place that delivers long-term sustainable and reliable growth.”
Mr. Classon concluded, “The Board and Uwe mutually agreed the transition was in the best interest of the Company and, given the previously announced separation of the Rx business, now is the appropriate time to make this change. The Board determined that Murray is the right CEO for Perrigo’s consumer focused strategy going forward. We are thankful for Uwe’s leadership, including the decision to separate the Rx business. We are grateful for his service and wish him the best in his future endeavours.”
Mr. Roehrhoff stepped down as President, CEO and board member and will make himself available to ensure a smooth and successful transition.
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