BRIEF—Endo Int announces succession plan

Endo International today announced that Paul Campanelli, president and chief executive has notified his intention to retire and Endo’s board of directors is implementing its CEO succession plan.

Mr Campanelli has been appointed Chairman of the board effective immediately and will also continue to serve as president and CEO until his successor is appointed. Roger Kimmel, who has served as chairman of the board, has been appointed senior independent director. Mr Kimmel replaces Dr Sharad Mansukani, who is resigning from the board due to other commitments, including his recent appointment as chairman of the board of another company.

The board is launching a process to identify Mr Campanelli's successor. Mr Campanelli will be actively involved in that process and will help facilitate a smooth transition. In addition, he will continue to serve as chairman following the appointment of his successor.

"Over the last three years, we have been laser-focused on executing our strategy to simplify our business, drive productivity improvements and leverage our culture as a differentiator, which has led to strong operating performance despite a challenging external environment," Mr Campanelli said, adding: "I am proud of what the Endo team has accomplished, and I am confident we have positioned the company for long-term growth and success."