Mylan Inc. Announces Change in Board Leadership
- Co-founder Mike Puskar retires as Chairman of the Board -
- Robert J. Coury elected Chairman of the Board -
PITTSBURGH May 7 /PRNewswire-FirstCall/ -- Mylan Inc. today announced a change in leadership to its Board of Directors. Mylan co-founder and chairman Milan ("Mike") Puskar announced that he is stepping down as Chairman of the Board effective immediately and that he will retire as a director effective Oct. 1. The board subsequently elected Mylan's Vice Chairman and CEO Robert J. Coury to succeed Puskar as Chairman of the Board.
Upon his election Coury stated: "On behalf of the Board of Directors and all of Mylan's employees and shareholders, I would like to personally thank Mike Puskar for his many accomplishments; his impact on the industry; and for his service and leadership. Mike will truly, truly be missed."
Coury continued, "I am also extremely honored to add the chairman role to my current responsibilities as Chief Executive Officer of Mylan. At this time, I would also like to announce that Rod Piatt, who has served as a member of our Board of Directors for the past five years, has been appointed Vice Chairman of the Board of Directors."
Puskar co-founded Mylan as a privately held drug distributor with Don Panoz in 1961. He has been a director of the company for the past 33 years, serving as its chairman since 1993. Puskar also was the company's president from 1976 to 2000 and CEO from 2000 until 2002. His tenure has been marked by a steady and strong leadership position among generic pharmaceuticals companies in the U.S. As one of the industry's pioneers, Puskar built a legacy on quality manufacturing, unparalleled customer service and policy leadership.
Puskar commented: "The time has come for me to step down as chairman, and I am more than confident that under Robert's passionate and strategic direction, Mylan will continue to provide leadership for an industry that is continually evolving. Robert has taken what we started almost 50 years ago and turned it into a global powerhouse with a vast reach that is unique among our peers. I would like to congratulate him on his remarkable accomplishments to date, and I wish him all the best as he executes on his vision for the next 50 years."
Coury has been Mylan's Vice Chairman and CEO since 2002 and had previously served as a consultant to the company from 1995 to 2002. Under his leadership and strategic direction, the company transformed from the third largest generics company in the U.S. to the third largest generics and specialty pharmaceutical company in the world with the 2007 game-changing acquisitions of a majority interest in Matrix Laboratories and the global generics business of Merck KGaA. Prior to joining Mylan, Coury was the principal of Coury Consulting L.P., a corporate strategy advisory firm he formed in 1989 in Pittsburgh.
Piatt was elected to Mylan's board in 2004. He is a current member of the board's audit, finance, compensation and governance, and nominating committees. Piatt is the president and owner of Horizon Properties, a real estate development company he founded in 1996 as well as CEO and Director of Lincoln Manufacturing Inc., a steel and coal manufacturing company.
Mylan Inc., which provides products to customers in more than 140 countries and territories, ranks among the leading diversified generics and specialty pharmaceutical companies in the world. The company maintains one of the industry's broadest - and highest quality - product portfolios, supported by a robust product pipeline; owns a controlling interest in the world's third largest active pharmaceutical ingredient manufacturer; and operates a specialty business focused on respiratory and allergy therapies. For more information, please visit www.mylan.com.
CONTACT: Michael Laffin (Media), +1-724-514-1968, or Dan Crookshank
(Investors), +1-724-514-1813
Web site: http://www.mylan.com/