Perrigo CEO retiring after one year
The CEO of a drug maker in the region is stepping down.
Dublin-based Perrigo Company, which operates its North American headquarters in Allegan, said yesterday John Hendrickson plans to retire.
Hendrickson will stay on with the company until a replacement is appointed and up to 60 days thereafter to help with the leadership transition.
A search committee comprising the board of directors has formed and will conduct a “thorough” process to find Hendrickson’s replacement.
“My decision to retire this year has not been an easy one, but now is the right time for me to make this change personally and professionally,” Hendrickson said. “I am privileged to have led Perrigo, particularly as we've met the challenges we faced and stabilized the business in a time of transition.”
Hendrickson has been with Perrigo since 1989 and was appointed CEO last April. Perrigo board chair Laurie Brlas commended Hendrickson for his years of service, specifically his efforts to improve organizational structure, enhance leadership, focus on the Consumer Healthcare International business and overseeing strategic portfolio review, including divestiture of non-essential assets.
“This dedication and focus on operational excellence has set Perrigo on a strong trajectory, as evidenced by our positive results in our first quarter,” Brlas said. “The board and I have no doubt about the strength of Perrigo's business and that we will carry this momentum forward over the next few months of John's leadership and beyond under a new executive.”
Following the announcement on Monday, Perrigo’s stock was down 2.3 percent at the end of the trading day.