MALVERN, Pa. – Mallinckrodt plc and Endo, Inc. today announced the future executive team that will drive the creation of global, scaled, diversified therapeutics leaders in both the branded specialty pharmaceuticals and the generics and sterile injectables (GxSI) businesses.
As announced on March 13, 2025, the proposed merger of Mallinckrodt and Endo envisions creating both a branded specialty pharmaceuticals company and, later, separating the generic pharmaceuticals businesses of the two companies along with Endo's sterile injectable operations, which is currently intended to be implemented through a spin-off of the separated businesses in an independent entity. The merger remains on course to be completed in the second half of this year, subject to approval by shareholders of both companies and customary closing conditions.
Today's announcement details the leadership team that will be assembled from Mallinckrodt and Endo, as well as critical executive functions for which new leaders will be recruited to help lead these businesses into a new era of growth and change.
"As we combine two companies with a rich legacy of innovation, we are building a highly capable and balanced team of proven leaders to help create a promising new future," said Siggi Olafsson, President and Chief Executive Officer of Mallinckrodt, who will become President and CEO of the combined company. "The leadership team of our newly combined company, along with the leaders of the GxSI business, will include executives from both Mallinckrodt and Endo who have deep experience and institutional knowledge, as well as new talent that will provide fresh insight and perspective. We are excited to bring together two great companies for the ultimate benefit of the patients we serve, and we thank employees of both companies for their tremendous work and efforts toward closing this merger."
Planned Senior Leadership Team for Merged Company
The following executives will form the core of the senior leadership team of the merged company serving in roles that are the same or essentially similar to the one each currently holds, unless otherwise stated.
- Tracy Basso, Chief Human Resources Officer, Endo;
- Mark Bradley, Chief Financial Officer, Endo, will serve as Chief Integration Officer;
- Lisa French, Chief Commercial Officer, Mallinckrodt;
- Henriette Nielsen, Chief Transformation Officer, Mallinckrodt;
- Paul O'Neill, Quality & Operations, Specialty Brands, Mallinckrodt;
- Cheryl Stouch, Chief Information Officer, Endo;
- Mark Tyndall, Chief Legal Officer & Corporate Secretary, Mallinckrodt; and,
- Susan Williamson, Chief Compliance Officer, Endo.
In addition, recruiting efforts are underway for the Chief Financial Officer role and leadership of the Business Development & Strategy, and Research & Development functions for this business.
The merged company, which will focus primarily on branded specialty pharmaceuticals following the GxSI spin-off, will be renamed, with the new name being announced as soon as possible after the close of the merger.
Announcing a New Name and Planned CEO for Generics & Sterile Injectables Business
The Par Health name builds on Par Pharmaceutical's greater than 40-year legacy of quality, growth, and innovation, with an expanded emphasis on its role as a trusted partner in improving patient care. Until the spin-off of the GxSI business occurs sometime after the merger closes, Par Health will operate as a segment of the merged company.
Leading Par Health will be Stephen Welch, who is currently Head of Specialty Generics at Mallinckrodt and who will become President and CEO of the business upon the spin-off. Until that time, Mr. Welch will continue to report to Mr. Olafsson.
