Coury will serve in this new role until the
end of 2025
PITTSBURGH, May 22, 2023
/PRNewswire/ -- Viatris Inc. (NASDAQ: VTRS), a
global healthcare company, announced today that as a result of
the strength and stability that Viatris has achieved since its
formation in 2020, including its ninth consecutive quarter of solid
execution and performance, as well as the successful completion of
the integration of its two legacy companies, Robert J. Coury, the key architect behind
Viatris' unique and powerful global platform, will once again
transition his role, this time from his current position of
Executive Chairman to Chairman Emeritus and Senior Strategic
Advisor to the board and management following the company's 2023
annual meeting of shareholders. The annual meeting for 2023 is
anticipated to occur in mid-December of this year, at which time
Mr. Coury will not be standing for re-election.
Given his longstanding and critical connection to, as well as
direct oversight of, many of Viatris' significant ongoing business
matters and strategic development opportunities, Coury will
continue to serve the company in this new non-employee, strategic
advisor capacity until the end of 2025 when the term of his
contract would have otherwise expired. This will not only ensure a
smooth transition but also help limit potential business or
strategic disruptions. The Viatris board will select a new
independent chair of the board who will be announced in the coming
months and whose tenure is intended to begin following the 2023
annual meeting.
Robert J. Coury said, "Given the
success and stability of Viatris to date and the sustainable future
I see ahead for the company as we near the completion of our Phase
1 long-term strategic plan, I am very pleased to be in a position
to plan a clear and orderly transition for the company. This will
provide an opportunity for its leaders to further progress and
grow, while I also remain available to continue to advise the board
and management on ongoing matters and help ensure the success of
the company's long-term goals. With Viatris' powerful foundation
now securely in place, with Scott A.
Smith at the helm as our new CEO, and with the clear and
defined path that we established for growth going forward, I have
never been more confident in the future of our company, our
employees and all of our stakeholders than I am today."
Coury concluded, "I have had the great fortune and opportunity
over time to work with many leadership teams and board members in
addition to Scott and our current members of the board, as we have
successfully set and then executed against our long-term vision and
our mission of access. I want to sincerely thank each and every one
of them for their commitment and partnership. However, it is really
the employees of Viatris, including all those who came during my
time with Mylan and those who joined the company just a few short
years ago from Upjohn, who have done the real work to turn our
strategic vision and mission into a reality. Time after time, each
and every one of them has stepped up whenever called upon to do
whatever it took to get the job done. It has been, and will always
be, my true privilege to serve them."
Viatris Lead Independent Director, Mark
Parrish said, "Throughout my entire time working with
Robert, I have found him to be a true visionary who has worked
tirelessly for more than two decades overseeing the execution of
his vision to build Mylan and now Viatris into one of the most
powerful global platforms in our industry today. He has truly been
the key architect behind the company's constant pursuit and
achievement of unmatched global access and scale across our
manufacturing, R&D, product portfolio, and geographic
footprint, all while maintaining one of the strongest balance
sheets within our sector. His foresight also led to the creation of
what is known as the company's Global Healthcare Gateway, a unique
asset that can provide an entry point for any other pharmaceutical
company within the industry that has the desire to leverage
Viatris' one-of-a-kind global footprint.
Added Parrish, "In an industry that is incredibly fast-paced and
ever evolving, the board is unanimous in its belief that Robert's
trademark combination of vision, passion and long-term strategic
thinking has positioned Viatris as one of the strongest companies
within our industry segment and further sets the stage for the
sustainable future we see for the company, as we continue to grow
and move up the pharmaceutical value chain. Thanks to Robert's
oversight, and with Phase 1 of our strategic plan nearly complete
and a clear path set for Phase 2, we find our company extremely
well-positioned and with a defined mission of providing global
patient access and a commitment to its pursuit that we believe will
be long-lasting."
Parrish concluded, "Another one of Robert's most important
responsibilities was his mentoring of management, and we are
pleased that he has agreed to continue to perform this role and
remain available to them and to the board whenever needed as
Chairman Emeritus and Senior Strategic Advisor. On behalf of every
member of the board, past and present, we cannot thank Robert
enough for all that he has done to position the company for this
moment, and for the long-term success we see ahead."
Viatris CEO, Scott A. Smith
commented, "From the first day that I had the opportunity to meet
Robert when initially discussing the opportunity to join the
Viatris board, I couldn't help but be struck by his incredible
energy, engagement, passion and love for the company and its
people. My appreciation for his intense commitment and knowledge
only deepened as I saw him in action leading the board, helping
support the management team, and interacting with our internal
teams and external partners around the globe. Robert has a deeply
strategic mindset and vast industry and business expertise, but as
importantly, it is clear to me as both a board member and as CEO
that he commands the genuine respect of all those who work with him
and around him. I consider him one of the strongest leaders in the
industry, and I am grateful that he will remain available to advise
me and the board on many ongoing business matters and other
strategic development activities. I cannot thank him enough for his
support and guidance over the past several months and know he will
continue to be an invaluable resource as I take the torch that he
has passed to me as CEO and we move the company into its next phase
of opportunity and growth."
About Viatris
Viatris Inc. (NASDAQ: VTRS) is
a global healthcare company empowering people worldwide to live
healthier at every stage of life. We provide access to medicines,
advance sustainable operations, develop innovative solutions and
leverage our collective expertise to connect more people to more
products and services through our one-of-a-kind Global Healthcare
Gateway®. Formed in November 2020,
Viatris brings together scientific, manufacturing and distribution
expertise with proven regulatory, medical, and commercial
capabilities to deliver high-quality medicines to patients in more
than 165 countries and territories. Viatris' portfolio comprises
more than 1,400 approved molecules across a wide range of
therapeutic areas, spanning both non-communicable and infectious
diseases, including globally recognized brands, complex generic and
branded medicines and a variety of over-the-counter consumer
products. With more than 38,000 colleagues globally, Viatris is
headquartered in the U.S., with global centers in Pittsburgh, Shanghai and Hyderabad, India. Learn more at viatris.com
and investor.viatris.com, and connect with us on Twitter, LinkedIn,
Instagram and YouTube.
Forward-looking Statements
This press release includes statements that constitute
"forward-looking statements." These statements are made pursuant to
the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. Such forward looking statements may include
statements that Robert J. Coury, the
key architect behind Viatris' unique and powerful global platform,
will once again transition his role, this time from his current
position of Executive Chairman to Chairman Emeritus and Senior
Strategic Advisor to the board and management following the
company's 2023 annual meeting of shareholders; the annual meeting
for 2023 is anticipated to occur in mid-December of this year, at
which time Mr. Coury will not be standing for re-election; given
his longstanding and critical connection to, as well as direct
oversight of, many of Viatris' significant ongoing business matters
and strategic development opportunities, Coury will continue to
serve the company in this new non-employee strategic advisor
capacity until the end of 2025 when the term of his contract would
have otherwise expired; this will not only ensure a smooth
transition but also help limit potential business or strategic
disruptions; the Viatris board will select a new independent chair
of the board who will be announced in the coming months and whose
tenure is intended to begin following the 2023 annual meeting;
given the success and stability of Viatris to date and the
sustainable future I see ahead for the company as we near the
completion of our Phase 1 long-term strategic plan, I am very
pleased to be in a position to plan a clear and orderly transition
for the company; this will provide an opportunity for its leaders
to further progress and grow, while I remain available to continue
to advise the board and management on ongoing matters and help
ensure the success of the company's long-term goals; with Viatris'
powerful foundation now securely in place, with Scott A. Smith at the helm as our new CEO, and
with the clear and defined path that we established for growth
going forward, I have never been more confident in the future of
our company, our employees and all of our stakeholders than I am
today; his foresight also led to the creation of what is known as
the company's Global Healthcare Gateway, a unique asset that can
provide an entry point for any other pharmaceutical company within
the industry that has the desire to leverage Viatris' one-of-a-kind
global footprint; in an industry that is incredibly fast-paced and
ever evolving, the board is unanimous in its belief that Robert's
trademark combination of vision, passion and long-term strategic
thinking has positioned Viatris as one of the strongest companies
within our industry segment and further sets the stage for the
sustainable future we see for the company as we continue to grow
and move up the pharmaceutical value chain; thanks to Robert's
oversight, and with Phase 1 of our strategic plan nearly complete
and a clear path set for Phase 2, we find our company extremely
well-positioned and with a defined mission of providing global
patient access and a commitment to its pursuit that we believe will
be long-lasting; another one of Robert's most important
responsibilities was his mentoring of management, and we are
pleased that he has agreed to continue to perform this role and
remain available to them and to the board whenever needed as
Chairman Emeritus and Senior Strategic Advisor; on behalf of every
member of the board, past and present, we cannot thank Robert
enough for all that he has done to position the company for this
moment, and for the long-term success we see ahead; and I cannot
thank him enough for his support and guidance over the past several
months and know he will continue to be an invaluable resource as I
take the torch that he has passed to me as CEO and we move the
company into its next phase of opportunity and growth. Factors that
could cause or contribute to such differences include, but are not
limited to: the possibility that the Company may be unable to
realize the intended benefits of, or achieve the intended goals or
outlooks with respect to, its strategic initiatives; the
possibility that the Company may be unable to achieve expected
benefits, synergies and operating efficiencies in connection with
acquisitions, divestitures, or its global restructuring program,
within the expected timeframe or at all; impairment charges or
other losses related to the divestiture or sale of businesses or
assets; the Company's failure to achieve expected or targeted
future financial and operating performance and results; the
potential impact of public health outbreaks, epidemics and
pandemics, including the ongoing challenges and uncertainties posed
by COVID-19; actions and decisions of healthcare and pharmaceutical
regulators; changes in healthcare and pharmaceutical laws and
regulations in the U.S. and abroad; any regulatory, legal or other
impediments to Viatris' ability to bring new products to market,
including but not limited to "at-risk" launches; Viatris' or its
partners' ability to develop, manufacture, and commercialize
products; the scope, timing and outcome of any ongoing legal
proceedings, and the impact of any such proceedings; any
significant breach of data security or data privacy or disruptions
to our information technology systems; risks associated with
international operations; the ability to protect intellectual
property and preserve intellectual property rights; changes in
third-party relationships; the effect of any changes in Viatris' or
its partners' customer and supplier relationships and customer
purchasing patterns; the impacts of competition; changes in the
economic and financial conditions of Viatris or its partners;
uncertainties and matters beyond the control of management,
including general economic conditions, inflation and exchange
rates; failure to execute stock repurchases consistent with current
expectations; stock price volatility; and the other risks described
in Viatris' filings with the Securities and Exchange Commission
(SEC). Viatris routinely uses its website as a means of disclosing
material information to the public in a broad, non-exclusionary
manner for purposes of the SEC's Regulation Fair Disclosure (Reg
FD). Viatris undertakes no obligation to update these statements
for revisions or changes after the date of this release other than
as required by law.
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SOURCE Viatris Inc.