Perrigo Company plc Announces Appointment of Two New Independent Directors to Board

DUBLIN, Nov. 10, 2016 /PRNewswire/ -- Perrigo Company plc (NYSE: PRGO; TASE) today announced the appointment of independent Directors Geoffrey M. Parker and Theodore R. Samuels to its Board of Directors, further enhancing its corporate governance and the depth and breadth of expertise. Mr. Parker's appointment was effective Monday, November 7, 2016, while Mr. Samuels will join the Board on January 4, 2017 after his expected retirement from Capital Group. Mr. Parker will join the Audit Committee.

Mr. Parker currently serves as a member of the board of directors of Genomic Health, Sunesis Pharmaceuticals and ChemoCentryx. Mr. Parker previously served as Chief Financial Officer of Anacor Pharmaceuticals from September 2010 to May 2015.  From 1997 to 2009, Mr. Parker led the West Coast Healthcare Investment Banking practice at Goldman Sachs, where he advised leading companies in the biotechnology, life science tools and medical device industries. He holds an A.B. degree in Economics and Engineering Science from Dartmouth College and an MBA from the Stanford Graduate School of Business.

Mr. Samuels has served as President of Capital Guardian Trust Company, a Capital Group company, since 2010 and an equity portfolio manager and investment analyst at Capital Group since 1981. Capital Group is one of the most prominent investors in the United States and globally, delivering long-term results for investors using high-conviction portfolios, rigorous research, and individual accountability. Mr. Samuels has evaluated numerous companies across all sectors and has served on many management and investment committees, with an eye toward shareholder value creation. He holds a B.A. from Harvard College and an MBA from Harvard Business School.

Additionally, current Perrigo board members Mr. Michael Jandernoa and Mr. Gary Kunkle have elected to not stand for reelection in 2017.

Perrigo's Board of Directors Chairman Laurie Brlas commented, "On behalf of the Company and the entire Perrigo Board, I want to thank Mike and Gary for their dedication and service to Perrigo and its shareholders, and contributions to the long-term success of the Company. When I became Chairman of Perrigo's Board of Directors in April, John Hendrickson and I were adamant that we continue to bring fresh perspectives to all aspects of the Company. Our Board certainly supports this approach through the appointment of Geoff and Ted, as they are highly qualified and experienced professionals. We look forward to benefiting from their relevant expertise and counsel as we continue to execute against our business objectives and take thoughtful and decisive action to create value for our shareholders."

About Perrigo

Perrigo Company plc, a top five global over-the-counter (OTC) consumer goods and pharmaceutical company, offers consumers and customers high quality products at affordable prices. From its beginnings in 1887 as a packager of generic home remedies, Perrigo, headquartered in Ireland, has grown to become the world's largest manufacturer of OTC products and supplier of infant formulas for the store brand market. The Company is also a leading provider of branded OTC products, generic extended topical prescription products and receives royalties from Multiple Sclerosis drug Tysabri®. Perrigo provides "Quality Affordable Healthcare Products®" across a wide variety of product categories and geographies primarily in North America, Europe, and Australia, as well as other key markets including Israel and China. Visit Perrigo online at (http://www.perrigo.com).

Forward-Looking Statements

Certain statements in this press release are "forward-looking statements." These statements relate to future events or the Company's future financial performance and involve known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, performance or achievements of the Company or its industry to be materially different from those expressed or implied by any forward-looking statements. In some cases, forward-looking statements can be identified by terminology such as "may," "will," "could," "would," "should," "expect," "plan," "anticipate," "intend," "believe," "estimate," "predict," "potential" or the negative of those terms or other comparable terminology. The Company has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While the Company believes these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond the Company's control, including the timing, amount and cost of share repurchases, future impairment charges, the ability to achieve its guidance and the ability to execute and achieve the desired benefits of announced initiatives. These and other important factors, including those discussed under "Risk Factors" in the Company's Form 10-KT for the six-month period ended December 31, 2015, as well as the Company's subsequent filings with the SEC, may cause actual results, performance or achievements to differ materially from those expressed or implied by these forward-looking statements. The forward-looking statements in this press release are made only as of the date hereof, and unless otherwise required by applicable securities laws, the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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SOURCE Perrigo Company plc

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