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15 May 2014

Actavis Announces Proposed Senior Leadership Team Effective Following Completion of Forest Laboratories Acquisition

Actavis plc has announced the proposed senior management team that will lead the specialty pharmaceutical company pending the successful close of the acquisition of Forest Laboratories, Inc., which is anticipated at mid-year. 


Following the close, Paul Bisaro, Chairman and Chief Executive Officer of Actavis, will become Executive Chairman. Brent Saunders, currently CEO and President of Forest, will become CEO and President, and a member of the Board of Directors. Robert Stewart, President, Actavis Global Operations, will become Chief Operating Officer. Mr Saunders will report to Mr Bisaro and the Board of Directors, and Mr Stewart will report to Mr Saunders.


"Consistent with the practice we established during the legacy Actavis acquisition in 2012, we are publicly announcing the proposed senior leadership structure prior to the close of the Forest acquisition, to ensure that we seamlessly operate as one global company on Day 1," said Mr Bisaro. "These appointments reflect the increased size and complexity of the combined business, and the exceptional and complementary expertise of the Actavis and Forest management teams. Announcing Brent and Bob's appointments, as well as the extended senior leadership structure, permits us to more effectively define the cascading organization. This will remove uncertainty during the integration planning phase prior to close, as well as ensure continuity of management in meeting our commitments to drive enhanced value following the close. The proposed senior management structure reflects the wealth of exceptional pharmaceutical talent available from both organizations that will lead the new Actavis post close."


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