- Push-out Score determined
- After about three years in the position
- Praise and thanks for Campanelli
- Search for a successor
- Campanelli will remain as Chairman at Endo
- Campanelli said 104 words
(exechange) — Dublin, Ireland, November 4, 2019 — Paul Campanelli, chief executive of Endo, leaves. As announced by Endo International Plc in a news release and in a regulatory filing published on Monday, November 4, 2019, Paul V. Campanelli leaves his post as Chief Executive Officer at the pharmaceutical company after about three years in the role.
Campanelli will continue to serve as the Company’s President and Chief Executive Officer until his successor is appointed.
Endo will undertake a search for a successor.
No reason given
In the announcement, Endo did not explicitly explain the reason for Paul Campanelli’s move.
Campanelli will remain as Chairman at Endo
“Mr. Campanelli has been appointed Chairman of the Board effective immediately and will also continue to serve as President and Chief Executive Officer until his successor is appointed,” Endo said.
Endo said: “Paul V. Campanelli, President and Chief Executive Officer has notified the Board of Directors (“Board”) of his intention to retire and the Board is implementing its Chief Executive Officer succession plan.”
Endo further said: “On November 4, 2019, Paul V. Campanelli notified the Board of his intention to retire as the Company’s President and Chief Executive Officer.”
Share price decline
The announcement follows a decline in Endo International Plc’s share price of 72% since November 2018.
In the position of CEO since 2016
Paul Campanelli became CEO of the Company in September 2016.
Paul Campanelli was appointed President, Chief Executive Officer and a Director of Endo International plc effective September 23, 2016.
Campanelli joined Endo in September 2015 as the President of Par Pharmaceutical, leading Endo’s fully integrated U.S. Generics business, following Endo’s acquisition of Par Pharmaceutical.
Prior to joining Endo, he had served as Chief Executive Officer of Par Pharmaceutical Companies, Inc. following the company’s acquisition by TPG in 2012.
Prior to the TPG acquisition, Campanelli served as Chief Operating Officer and President of Par Pharmaceutical, Inc. from 2011 to 2012.
At Par Pharmaceutical Inc., Campanelli had also served as Senior Vice President, Business Development & Licensing; Executive Vice President and President of Par Pharmaceutical, Inc.; and was named a Corporate Officer by its board of directors. He also served on the board of directors of Sky Growth Holdings Corporation.
Prior to joining Par Pharmaceutical Companies Inc., Campanelli served as Vice President, Business Development at Dr. Reddy’s Laboratories Ltd., where he was employed from 1992 to 2001. Campanelli earned his Bachelor of Science degree from Springfield College.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding the management change on a scale of 0 to 10.
exechange reached out to Endo and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 45.2019 ($).