Perrigo Announces Leadership Update

News provided by

Sep 11, 2023, 16:05 ET

Appoints Experienced Consumer Packaged Goods Executive Catherine "Triona" Schmelter as EVP and President, Consumer Self-Care Americas (CSCA) and Global Portfolio Optimization

DUBLIN, Sept. 11, 2023 /PRNewswire/ -- Perrigo Company plc (NYSE: PRGO), a leading provider of Consumer Self-Care Products, today announced the appointment of Catherine "Triona" Schmelter as Executive Vice President and President, Consumer Self-Care Americas (CSCA) and Global Portfolio Optimization. In this role, Ms. Schmelter will lead the strategic direction, growth, and profitability of the CSCA business in addition to overseeing the global portfolio evolution process to consistently deliver Perrigo's long-term growth algorithm. Ms. Schmelter will report to President and CEO Patrick Lockwood-Taylor.

Mr. Lockwood-Taylor commented, "We are delighted to welcome Triona to the Perrigo team as EVP & President of CSCA and head of Global Portfolio Optimization, a newly created position. Triona joins at an exciting time to lead the CSCA business and evolve Perrigo's global self-care portfolio to achieve our sustainable and value accretive growth objectives. She brings an important set of skills to this position through her experience in leading both branded and private label businesses. I am confident that her fresh perspectives and deep consumer insights will further leverage CSCA's scale assets and position our global self-care portfolio to win with consumers."

Prior to joining Perrigo, Ms. Schmelter was most recently at Treehouse Foods, where she served as Chief Transformation Officer, responsible for growth acceleration and capability building initiatives. Prior to this role, Ms. Schmelter led the Meal Solutions business, where she drove improvements in pricing realization and customer service leading to category margin expansion. Previously, Ms. Schmelter led the successful turnaround of both the Meals and Condiments divisions at Treehouse Foods by reshaping the portfolio around premium categories, reorganizing teams around strategic priorities and improving relationships with top customers. Prior to Treehouse Foods, Ms. Schmelter spent 10 years at Kraft Foods in various leadership roles, including Vice President of Meals, after beginning her CPG career at General Mills. She holds a Bachelor of Arts degree in accounting and art history from the University of Notre Dame and a Master of Business Administration in marketing and finance from the Northwestern University Kellogg Graduate School. Ms. Schmelter also serves as a Non-Executive Director with Steelcase Inc., a publicly traded company headquartered in Grand Rapids, Michigan.

James E. Dillard III will be departing the Company to pursue other opportunities. Mr. Lockwood-Taylor noted, "We thank Jim for his many contributions to Perrigo in his initial role as EVP and Chief Scientific Officer in 2019 and as EVP and President, CSCA, since October 2021. We wish him continued success."

About Perrigo

Perrigo Company plc (NYSE: PRGO) is a leading provider of Consumer Self-Care Products and over-the-counter (OTC) health and wellness solutions that enhance individual well-being by empowering consumers to proactively prevent or treat conditions that can be self-managed. Visit Perrigo online at 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," "forecast," "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: supply chain impacts on the Company's business, including those caused or exacerbated by armed conflict, trade and other economic sanctions and/or disease; general economic, credit, and market conditions; the impact of the war in Ukraine and any escalation thereof, including the effects of economic and political sanctions imposed by the United States, United Kingdom, European Union, and other countries related thereto; the outbreak or escalation of conflict in other regions where we do business; future impairment charges, if we determine that the carrying amount of specific assets may not be recoverable from the expected future cash flows of such assets; customer acceptance of new products; competition from other industry participants, some of whom have greater marketing resources or larger market shares in certain product categories than the Company does; pricing pressures from customers and consumers; resolution of uncertain tax positions and any litigation relating thereto, ongoing or future government investigations and regulatory initiatives; uncertainty regarding the Company's ability to obtain and maintain its regulatory approvals; potential costs and reputational impact of product recalls or sales halts; potential adverse changes to U.S. and foreign tax, healthcare and other government policy; the effect of the coronavirus (COVID-19) pandemic and its variants; the timing, amount and cost of any share repurchases (or the absence thereof); fluctuations in currency exchange rates and interest rates; the Company's ability to achieve the benefits expected from the sale of its Rx business and the risk that potential costs or liabilities incurred or retained in connection with that transaction may exceed the Company's estimates or adversely affect the Company's business or operations; the Company's ability to achieve the benefits expected from the acquisitions of Héra SAS ("HRA Pharma") and Nestlé's Gateway infant formula plant along with the U.S. and Canadian rights to the GoodStart® infant formula brand and other related formula brands ("Gateway") and/or the risks that the Company's synergy estimates are inaccurate or that the Company faces higher than anticipated integration or other costs in connection with the acquisitions; risks associated with the integration of HRA Pharma and Gateway, including the risk that growth rates are adversely affected by any delay in the integration of sales and distribution networks; the consummation and success of other announced and unannounced acquisitions or dispositions, and the Company's ability to realize the desired benefits thereof; and the Company's ability to execute and achieve the desired benefits of announced cost-reduction efforts and other strategic initiatives and investments, including the Company's ability to achieve the expected benefits from its Supply Chain Reinvention Program. Adverse results with respect to pending litigation could have a material adverse impact on the Company's operating results, cash flows and liquidity, and could ultimately require the use of corporate assets to pay damages, reducing assets that would otherwise be available for other corporate purposes. These and other important factors, including those discussed under "Risk Factors" in the Company's Form 10-K for the year ended December 31, 2022, as well as the Company's subsequent filings with the United States Securities and Exchange Commission, 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.

SOURCE Perrigo Company plc