Indivior updates Board Succession Plans
October 13, 2022
Indivior updates Board Succession Plans
Indivior PLC (the "Company") (LSE: INDV) today announces details of updates to its Board succession plan.
In March 2021, the Board announced details of a comprehensive succession plan, which was designed to fully align and support Indivior's key strategic priorities. A key part of this succession plan was the appointment of additional Non-Executive Directors to broaden and strengthen the Board's skills and expertise and to position Indivior for long-term sustainable growth. Over the course of the past twenty months, an additional five Non-Executive Directors have been appointed to the Board; these appointments have further enhanced the skills, experience and diversity of the Board.
Lorna Parker, Daniel J. Phelan and Tom McLellan joined the Board at its inception in November 2014 and will all reach the end of their nine-year terms of office in 2023. To ensure a smooth transition Lorna Parker, Non-Executive Director, and Daniel J. Phelan, Senior Independent Director and Chair of the Remuneration Committee, have agreed to remain as Non-Executive Directors until September 30, 2023.
The Board, supported by the Nomination & Governance Committee, is in the process of identifying the successor(s) for the roles of Senior Independent Director and Chair of the Remuneration Committee and an announcement in relation to the successor(s) for these roles will be made in due course.
Given Dr. McLellan's specific skill set and extensive background in addiction sciences, the Board has started a process to replace this expertise on the Board. Dr McLellan will continue to serve as a Non-Executive Director until a replacement has been appointed and a period of transition has been completed.
Graham Hetherington, Chair, said: 'We have added significant additional skills and experience to the Board over the last two years. This is critical to positioning Indivior for its next phase and for delivering long-term sustainable growth. We are grateful to Lorna, Dan and Tom for their continued commitment to supporting the Board through this key transition period and for ensuring smooth continuity.'
About Indivior
Indivior is a global pharmaceutical company working to help change patients' lives by developing medicines to treat substance use disorders (SUD) and serious mental illnesses. Our vision is that all patients around the world will have access to evidence-based treatment for the chronic conditions and co-occurring disorders of SUD. Indivior is dedicated to transforming SUD from a global human crisis to a recognized and treated chronic disease. Building on its global portfolio of OUD treatments, Indivior has a pipeline of product candidates designed to both expand on its heritage in this category and potentially address other chronic conditions and co-occurring disorders of SUD, including alcohol use disorder and cannabis use disorder. Headquartered in the United States in Richmond, VA, Indivior employs more than 900 individuals globally and its portfolio of products is available in over 40 countries worldwide. Visit www.indivior.com to learn more. Connect with Indivior on LinkedIn by visiting www.linkedin.com/company/indivior.
For Further Information
|
Jason Thompson |
VP, Investor Relations Indivior PLC |
+1 804 402 7123 jason.thompson@indivior.com |
|
Tim Owens |
Director, Investor Relations Indivior PLC |
+1 804 263 3978 timothy.owens@indivior.com |
Forward-Looking Statements
This announcement contains certain statements that are forward-looking. By their nature, forward-looking statements involve risks and uncertainties as they relate to events or circumstances that may or may not occur in the future. Actual results may differ materially from those expressed or implied in such statements because they relate to future events. Forward-looking statements include, among other things, statements regarding the Indivior Group's financial guidance for 2022 and its medium- and long-term growth outlook, its operational goals, its product development pipeline, ongoing litigation and other statements containing the words "subject to", "believe", "anticipate", "plan", "expect", "intend", "estimate", "potential", "project", "may", "will", "should", "would", "could", "can", the negatives thereof, variations thereon and similar expressions.
Various factors may cause differences between Indivior's expectations and actual results, including, among others, the risk factors described in the most recent Indivior PLC Annual Report and in subsequent releases, and: factors affecting sales of Indivior Group's products and financial position; the outcome of research and development activities; decisions by regulatory authorities regarding the Indivior Group's drug applications or authorizations; the speed with which regulatory authorizations, pricing approvals and product launches may be achieved, if at all; the outcome of post-approval clinical trials; competitive developments; difficulties or delays in manufacturing and in the supply chain; disruptions in or failure of information technology systems; the impact of existing and future legislation and regulatory provisions on product exclusivity; trends toward managed care and healthcare cost containment; legislation or regulatory action affecting pharmaceutical product pricing, reimbursement or access; challenges in commercial execution; claims and concerns that may arise regarding the safety or efficacy of the Indivior Group's products and product candidates; risks related to legal proceedings, including the Indivior Group's compliance with its agreements with the U.S. Department of Justice and with the Office of Inspector General of the Department of Health and Human Services, non-compliance with which could result in potential exclusion from participating in U.S. Federal health care programs; the ongoing investigative and antitrust litigation matters; the opioid national multi-district litigation and securities class action litigation; the Indivior Group's ability to protect its patents and other intellectual property; the outcome of patent infringement litigation relating to Indivior Group's products, including the ongoing ANDA lawsuits; changes in governmental laws and regulations; issues related to the outsourcing of certain operational and staff functions to third parties; risks related to the evolving COVID-19 pandemic and the potential impact of COVID-19 on the Indivior Group's operations and financial condition, which cannot be predicted with confidence; uncertainties related to general economic, political, business, industry, regulatory and market conditions; and the impact of acquisitions, divestitures, restructurings, internal reorganizations, product recalls and withdrawals and other unusual items.
Consequently, forward-looking statements speak only as of the date that they are made and should be regarded solely as our current plans, estimates and beliefs. You should not place undue reliance on forward-looking statements. We cannot guarantee future results, events, levels of activity, performance, or achievements. Except as required by law, we do not undertake and specifically decline any obligation to update, republish or revise forward-looking statements to reflect future events or circumstances or to reflect the occurrences of unanticipated events.
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