This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Actavis Announces Proposed Senior Leadership Team Effective Following Completion Of Forest Laboratories Acquisition

Stocks in this article: ACT

DUBLIN, May 14, 2014 /PRNewswire/ -- Actavis plc (NYSE: ACT) today announced the proposed senior management team that will lead the specialty pharmaceutical company pending the successful close of the acquisition of Forest Laboratories, Inc., which is anticipated at mid-year.  Following the close, Paul Bisaro, Chairman and Chief Executive Officer of Actavis, will become Executive Chairman.  Brent Saunders, currently CEO and President of Forest, will become CEO and President, and a member of the Board of Directors.  Robert Stewart, President, Actavis Global Operations, will become Chief Operating Officer.  Mr. Saunders will report to Mr. Bisaro and the Board of Directors, and Mr. Stewart will report to Mr. Saunders.

"Consistent with the practice we established during the legacy Actavis acquisition in 2012, we are publicly announcing the proposed senior leadership structure prior to the close of the Forest acquisition, in order to ensure that we seamlessly operate as one global company on Day 1," said Mr. Bisaro.  "These appointments reflect the increased size and complexity of the combined business, and the exceptional and complementary expertise of the Actavis and Forest management teams.  Announcing Brent and Bob's appointments, as well as the extended senior leadership structure, permits us to more effectively define the cascading organization.  This will remove uncertainty during the integration planning phase prior to close, as well as ensure continuity of management in meeting our commitments to drive enhanced value following the close.  The proposed senior management structure reflects the wealth of exceptional pharmaceutical talent available from both organizations that will lead the new Actavis post close."

Paul Bisaro, Executive ChairmanIn the newly created role of Executive Chairman, Mr. Bisaro will continue to lead the Company's Board of Directors, while maintaining his oversight of the strategic management of Actavis.  Mr. Bisaro, working closely with Mr. Saunders and the Actavis Management Team, will oversee the development of the Company's brand, generic, branded generic and OTC business growth strategies, as well as the identification and execution of mergers and acquisitions, including geographic and business unit diversification strategies and initiatives.  He will also continue to share in directing senior management team selection and retention; overall business integration initiatives; strategic planning for both organic and inorganic growth; and in conjunction with Mr. Saunders, continue to represent the Company with shareholders, investors and other critical audiences.

Brent Saunders, CEO and PresidentAs CEO and President, Mr. Saunders will have responsibility for leading Actavis' approximately $15 billion global pharmaceutical business.  Mr. Saunders will have responsibility for all commercial and business functions, as well as the combined Company's finance, legal, human resource and corporate affairs activities.

"I am thrilled that Brent will be joining Actavis as CEO and President of our expanded organization, and accepting a seat on our Company's Board of Directors," said Mr. Bisaro.  "Brent is a proven leader with an in-depth knowledge of and passion for the pharmaceutical industry, whose record of success at Forest, Bausch + Lomb and Schering-Plough speaks for itself.  I am looking forward to working with him closely as we continue to build the new Actavis into a world-class company focused on sustainable double-digit growth."

1 of 5

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs