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New CEO to take helm at Endo
February 25th, 2013
MALVERN, Pa. – Rajiv De Silva has been named president and chief executive officer of Endo Health Solutions.
The company said Monday that De Silva, 46, previously president of Valeant Pharmaceuticals, is slated to take the CEO reins starting on March 18. He succeeds David Holveck, who is retiring.
While at Valeant from 2009 to 2013, De Silva also served as chief operating officer of Valeant's specialty pharmaceuticals business. Endo noted that during this period, he drove a turnaround plan that resulted in a multifold increase in revenues through acquisitions and organic sales growth as well as substantial improvements in profitability and cash-flow generation.
"Rajiv is a strong leader with the deep industry experience, outcome-oriented approach and proven ability to drive results the board was seeking in our next CEO," stated Roger Kimmel, chairman of Endo. "His track record in generating growth and profitability, managing complex integrations and delivering for shareholders will serve us well.
"At the same time, we appreciate Dave Holveck's significant contributions to Endo, including his leadership in reducing the company's dependence on Lidoderm, and wish him well in his retirement," Kimmel added.
De Silva also will join Endo's board of directors.
"I am excited to take on the challenge of leading Endo and helping the company realize its full potential," De Silva commented. "Endo occupies a unique position in the health care market, able to deliver innovative products and services across multiple platforms with clear strengths in the medically important areas of pain management and urology. I look forward to working with the Endo team to build on its strengths and deliver top-line growth while also improving cost management, execution and integration to enable Endo to make the most of its many opportunities."
Before joining Valeant, De Silva was a senior executive at Novartis from 2003 to 2008, most recently as president of its U.S. vaccines business and the head of vaccines in the Americas. He also previously served as president and CEO of Novartis Pharmaceuticals Canada and global head of strategic planning for Novartis Pharma. Earlier, he was a principal at McKinsey & Co., where he served as a member of the partnership group that led the global pharmaceutical and medical products practice.