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Allergan's Executive VP and Chief Financial Officer steps down

Published on: 26/09/17

Allergan has announced that its Executive Vice President and Chief Financial Officer Tessa Hilado intends to step down from her role at the company

"When I joined Allergan in December 2014, I promised Brent Saunders, Chairman and CEO, that I would stay three years to help transform the finance organisation, institute better systems and financial controls and improve the balance sheet," Hilado commented on her decision. "I am proud of the improvements we have made in each of these areas and the talent that we have attracted to our finance organisation over that time, including new leaders for Commercial Finance, Tax, Research & Development Finance and Investor Relations & Strategy. Now is a good time to announce my retirement from Allergan so that we have time to identify my successor and orchestrate a smooth hand-off to continue Allergan's progress."

Prior to joining the company in 2014, Hilado served as Senior Vice President, Finance and Treasurer for PepsiCo since 2009, and Vice President and Treasurer for Schering-Plough Corporation since 2008. Before this, she served in leadership roles for General Motors for 17 years.   

"Tessa has led a successful transformation of our finance organisation, and accomplished a great deal during her time at Allergan,” commented Saunders. “We completed and financed the acquisition of Allergan, divested our global generics business to Teva, steadily paid down debt, refinanced debt at a lower interest rate and completed actions to return cash to shareholders by instituting our first dividend and completing $15 billion in stock repurchases, including a $10 billion accelerated stock purchase. Personally and professionally I will miss working with Tessa and I'm appreciative of her dedication to Allergan in ensuring a smooth and seamless transition to her successor."

Allergan is now actively searching for a successor to fill the role, and Hilado will continue in her current capacity until one in found in order to ensure a smooth transition.

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