Promotion of John Hendrickson to President Perrigo also announced that John Hendrickson, formerly Executive Vice President, Global Operations and Supply Chain, will be promoted to the position of President, effective immediately, reporting to Chairman and CEO, Joe Papa. Mr. Papa said, “John is the ideal leader to oversee the transformational initiatives announced today. The plan includes $500 million of repurchases that will be completed by the end of 2015, and an additional $1.5 billion in repurchases that the Company expects to complete over the subsequent 24-36 months, and are expected to be funded through available liquidity. The Company expects that the $500 million of share repurchases will add approximately $0.155 to Perrigo’s 2016 adjusted earnings per share guidance. Including the expected benefit of the $500 million in initial share repurchases and the full run rate $175 million benefits of the actions announced today (approximately $0.38 per share), Perrigo expects a pro forma run rate EPS of $9.836 in 2016. Mr. Papa said, “The actions we are announcing today to drive substantial profit growth make the gross inadequacy of Mylan’s offer clearer than ever. We strongly believe that Mylan’s claims about synergies, benefits of its expected vertical integration and its ability to manage our business are simply wrong, particularly given the significant differences in our businesses and the markets in which we operate. It is fundamentally irrational to believe that Mylan can run this business better or more profitably than our team. With the well-publicized market pressures on generic and branded pharmaceutical companies like Mylan, it’s not surprising that Mylan would want to add a top five, durable global OTC consumer goods business like ours but make no mistake, this is a terrible deal for Perrigo shareholders. Perrigo is positioned to create substantially more value than the Mylan offer, and on behalf of the Board, I urge all shareholders not to tender.” Conference Call A conference call will begin at 8:00 a.m. (ET) live via webcast to interested parties in the investor relations section of the Perrigo website at http://perrigo.investorroom.com/events-webcasts or by phone at 877-248-9413, International 973-582-2737, and reference ID #54344799. A taped replay of the call will be available beginning at approximately 4:00 p.m. (ET) on October 22, 2015 until midnight on November 6, 2015. To listen to the replay, dial 855-859-2056, International 404-537-3406, and use access code 54344799. Irish Takeover Rules The directors of Perrigo accept responsibility for the information contained in this announcement.
For the original version including any supplementary images or video, visit http://www.prnewswire.com/news-releases/perrigo-taking-actions-to-deliver-shareholder-value-far-superior-to-mylan-offer-300164610.html
Figure out how to prioritize the tasks you have to do and do the ones that are important before all the others. If you tackle to many projects at one time, it ends up harming the quality of everything you do. It can also end up in you not getting anything done. You will do better if you take your time with each task.