MORGANTOWN — Mylan announced Wednesday afternoon that Chairman Robert J. Coury has returned to his position as executive chairman, upon appointment of the board.
The board said that the “unprecedented current operating environment due to the COVID-19 pandemic,” along with the pending Mylan-Upjohn merger and other initiatives underway led the board to decide Coury should resume his former post immediately.
Mylan said Coury will partner closely with CEO Heather Bresch, President Rajiv Malik and the entire management team to focus on the merger into a new company, Viatris, and maintain Mylan’s “supply of critical medicines to help address public health needs amid the evolving COVID-19 crisis.”
Mylan Vice Chairman and lead independent Director Mark Parrish said: “The Mylan Board of Directors is extremely pleased that Robert has agreed to resume the executive chairman position during these extraordinary times.”
Coury, said, “I am honored to return to the role of executive chairman and am grateful for the Mylan Board’s continued confidence. … There’s never been a more important time to have all hands on deck to ensure the safety and well-being of our employees while also working to maintain the supply of critical medicines for patients in the more than 165 countries we serve.”
As previously planned, Mylan said, Cory is slated to serve as executive chairman of Viatris when the merger closes; or, as executive chairman of Mylan should the merger not close.
Coury’s base salary will be equivalent to the cash compensation he currently receives for his services as non-executive chairman. Any extension of his agreement or modification of the compensation and benefits contemplated by his employment agreement will either be determined by the Viatris board or the Mylan Board, depending upon closure of the merger.
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