DUBLIN--(BUSINESS WIRE)--Jan. 12, 2012--
Covidien plc (NYSE:COV), a leading global provider of healthcare
products, today announced the appointment of Mark Trudeau as president
of its Pharmaceuticals segment and a senior vice president of the
Company, effective February 1.
Covidien is one of the world’s largest producers of bulk acetaminophen,
the largest U.S. supplier of opioid pain medications and among the top
10 generic drug manufacturers in the U.S. The Company secured U.S. Food
and Drug Administration approval of eight new pharmaceutical products
since 2008, among which were two branded pain products launched in 2010.
In addition, the Company is one of the world’s leading suppliers of
generators used to produce technetium-99, a critical diagnostic medical
isotope. It also is the only manufacturer that offers a fully integrated
system of diagnostic contrast media in prefilled syringes and injectors.
“Mark has an impressive track record of success in the pharmaceuticals
industry, including valuable experience outside the U.S. We are
delighted he is joining Covidien to lead the Pharmaceuticals segment,
where he will play a critical role in fulfilling our vision of
delivering unmatched value to our customers,” said José E. Almeida,
president and chief executive officer.
A 25-year pharmaceuticals industry veteran, Trudeau is president and
chief executive officer of Bayer Healthcare, LLC. He also serves as
president and chief executive officer of Bayer Healthcare
Pharmaceuticals US Region, a $2.5 billion business focused on women’s
healthcare, oncology, neurology, hematology, diagnostic imaging and
general medicine. Additionally, Trudeau is the lead executive sponsor of
Bayer’s women’s leadership initiative and its diversity and inclusion
activities. Previously, while serving in these executive roles, he also
headed Bayer’s Specialty Medicine Global Business Unit as interim
Prior to joining Bayer, Trudeau served as senior vice president and
general manager of the Bristol-Myers Squibb Immunology Division.
Previous positions at Bristol-Myers Squibb included posts in marketing
and assignments leading the company’s regional operations. These posts
included regional president, Asia-Pacific, based in Singapore;
president, Canadian Operations, headquartered in Montreal; and managing
director and general manager, United Kingdom Operations, based in London.
After earning a Bachelor of Science degree in chemical engineering from
the University of Michigan, Trudeau began his career at Eli Lilly & Co.,
followed by positions of increasing responsibility at E. I. du Pont de
Nemours and Company and Abbott Laboratories. He holds an MBA degree from
the University of Michigan. Trudeau currently serves on the Board of
Directors of the Pharmaceutical Research and Manufacturers of America
and the Board of Trustees of HealthCare Institute of New Jersey. He also
served on the Board of Directors of the National Pharmaceutical Council
Trudeau succeeds Matthew K. Harbaugh, chief financial officer,
Pharmaceuticals, who has served as interim president since November
2010, when former Pharmaceuticals president Timothy R. Wright resigned.
Harbaugh will continue as chief financial officer of the business.
On December 15, 2011, the Company announced that it plans to spin off
its pharmaceuticals business into a standalone public company. It
anticipates that the transaction will be in the form of a distribution
that will be tax-free to U.S. shareholders of a new publicly traded
stock in the new pharmaceuticals company. Covidien currently expects
that completion of the transaction could take up to 18 months.
Covidien is a leading global healthcare products company that creates
innovative medical solutions for better patient outcomes and delivers
value through clinical leadership and excellence. Covidien manufactures,
distributes and services a diverse range of industry-leading product
lines in three segments: Medical Devices, Pharmaceuticals and Medical
Supplies. With 2011 revenue of $11.6 billion, Covidien has 41,000
employees worldwide in more than 65 countries, and its products are sold
in over 140 countries. Please visit http://www.covidien.com
to learn more about our business.
Source: Covidien plc
Eric Kraus, 508-261-8305
Senior Vice President
Lannum, CFA, 508-452-4343