Pfizer and Mylan announced Ian Read and James Kilts will join the Viatris board of directors upon completion of the planned combination of Mylan N.V. and Upjohn Inc., which is expected to occur in mid-2020. The Viatris board will oversee a company with a combined global presence and a mission to serve the health needs of people around the world.
Ian Read currently serves as Pfizer's Executive Chairman. In his previous role, he served as Pfizer's Chairman and Chief Executive Officer beginning in December 2011, having been named President and Chief Executive Officer in December 2010. During his tenure as CEO, Pfizer generated a total shareholder return of 250%, achieved 32 FDA approvals, invested significantly in R&D, and completed several transformational transactions to help strengthen Pfizer's pipeline. Read is the lead director of the Kimberly Clark corporation.
James Kilts, a Pfizer director since 2007, has held numerous leadership roles in a wide range of companies. He has previously served as Vice Chairman of The Proctor and Gamble Company; Chairman and CEO of The Gillette Company; President and CEO of Nabisco Group Holdings Corporation; Chairman of the Nielsen Company B.V.; and Chairman of Big Heart Pet Brands. He currently serves as a Director of MetLife Inc., The Simply Good Foods Company and Unifi, Inc. and is also a Founding Partner of Centerview Capital, a private equity firm.
"Today, I'm pleased to announce two of the three Pfizer-designated members of the Viatris board – Ian Read and Jim Kilts," Dr. Albert Bourla, Pfizer Chief Executive Officer, said. "Ian is a highly regarded industry veteran with a strong record of value creation and extensive knowledge of the Upjohn business and the markets in which both Upjohn and Mylan operate. Jim has a distinguished career in business, serving as chief executive officer of two global companies and establishing a successful private equity firm. Ian and Jim are proven leaders with governance expertise and financial acumen, which will benefit Viatris patients and shareholders in the years to come. I sincerely thank them for their significant contributions to Pfizer's success."
"I'm delighted that Ian and Jim will serve on the Viatris board," said Mylan Chairman Robert J. Coury. "I've known Ian for some time, and his overall experience and knowledge of the Upjohn portfolio will serve Viatris well given the purpose and direction of the new company. Jim brings extensive leadership and transformation experience – a skillset that will be especially relevant for Viatris as the new company continues the extensive transformation of the legacy Mylan business and creates a new champion for global health. Combined with other talented members expected on our new board, Ian and Jim will help unlock the value of our combined assets and accelerate our ability to serve the world's changing health needs."
As previously announced, upon the completion of the transaction, Robert J. Coury will serve as the Executive Chairman of the Viatris board and Michael Goettler, current Group President, Upjohn, will serve as Chief Executive Officer and board member. Also, as previously announced, Ian Read has chosen to retire from Pfizer's board on December 31, 2019. James Kilts will cease being a member of Pfizer's board immediately upon the closing of the transaction.
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