Allergan successfully concludes CFO search
pharmafile | February 6, 2018 | Appointment | Business Services, Manufacturing and Production, Medical Communications, Research and Development, Sales and Marketing | Allergan, biotech, drugs, pharma, pharmaceutical
Allergan has been searching for a new Chief Financial Officer since Tessa Hilado, its current CFO, revealed that she would retiring from the company last year. The search has taken five months but Allergan has confirmed that Matthew M. Walsh would take up the position, beginning later this month.
Walsh arrives at the company directly from Catalent, where he held the position of CFO for nearly a decade. Catalent works closely with company in the pharma, biotech and healthcare space – providing delivery technology and development solutions. This should give Walsh some grounding in the industry before he arrives at Allergan, with his only roles prior being with Spectrum Group, an auction company, and GenTek, an industrial manufacturer.
“Matt Walsh is an experienced Chief Financial Officer with a strong track record of creating value for shareholders, including 14 years as a CFO with three public companies and ten years in health care as CFO at Catalent where he led their transformation under private equity, a successful IPO and numerous acquisition and divestiture transactions, all while driving sustained organic growth. Matt brings to Allergan a unique combination of skills, including a technical background, a deep understanding of the healthcare industry, a rich experience across financial disciplines, and the ability to lead complex health care organisations,” said Brent L. Saunders, Chairman and Chief Executive Officer at Allergan. “I’m pleased to welcome Matt to our team and look forward to partnering with him as we continue to drive strong financial performance and deploy our capital to increase shareholder return over the short- and long-term.”
Discussing the prospect of working for Allergan, Walsh said: “I’m very excited to join Allergan’s fast-paced, results oriented culture. I look forward to working with Brent and the leadership team to realise Allergan’s long-term growth potential in the U.S. and internationally, as well as unlocking additional value through the Open Science R&D pipeline”.
It was revealed, at the time she announced her retirement, that Tessa Hilado would step down immediately after a successor was found. Hilado has immediately found a new role to keep her occupied after her retirement from Allergan, by joining the board of directors at Pharmaceutical Product Development – a contract research organisation. This move was announced at the start of February.
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