Perrigo Picks Former Bayer Executive As New CEO

Perrigo Co PLC PRGO disclosed the appointment of Patrick Lockwood-Taylor as its new President, CEO and member of the Board of Directors, effective June 30, 2023.

Before joining Perrigo, Lockwood-Taylor served dual roles at Bayer A.G.BAYRY as President of the U.S. business and Regional President of Consumer Health North America.

"Patrick is a proven winner with a deep knowledge of the consumer self-care industry who promotes a performance driven and inclusive culture centered around innovation, creates industry leading in-house digital marketing and e-commerce capabilities, fosters Rx-to-OTC switches, and transforms customer partnerships through mutual business development, said Orlando D. Ashford, Chairman of the Board of Directors.

Last month, Murray S. Kessler announced his intention to retire as President & CEO, effective July 31, 2023. 

Also, the company reported Q1 FY23 sales of $1.18 billion, marginally beating the consensus of $1.17 billion, and adjusted EPS of $0.45, exceeding the consensus of $0.42.

Price Action: PRGO shares are trading lower by 0.58% at $33.53 on the last check Thursday.