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Mallinckrodt Provides Executive Committee Updates

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Mallinckrodt plc (OTCMKTS: MNKPF) (“Mallinckrodt” or the “Company”), a global specialty pharmaceutical company, today provided an update on its Executive Committee. Reflective of Mallinckrodt’s efforts to build on recent progress, stabilize the business and create a stronger company for the long term, the following leaders will serve on the Executive Committee and report directly to Siggi Olafsson, President and Chief Executive Officer, effective immediately unless otherwise noted:

Bryan Reasons will continue to serve as EVP and Chief Financial Officer, with executive responsibility for the Company’s global finance and IT functions. Mr. Reasons served as a key architect of Mallinckrodt’s successful Chapter 11 restructuring and will continue to provide leadership in managing financial strategy and investor relations as the Company works to strengthen its financial position.

Henriette Nielsen has joined the Company as EVP and Chief Transformation Officer, replacing Ian Watkins who will depart in mid-September. In this newly created role, Ms. Nielsen will have executive responsibility for communications, human resources and employee-related functions at the Company, as well as a focus on further building out the Company’s Environmental, Social and Governance (ESG) program. Most recently, she served as EVP of Business Operations at Hikma Pharmaceuticals.

Mark Tyndall, who currently serves as SVP and U.S. General Counsel, will assume the role of EVP and Chief Legal Officer & Corporate Secretary, replacing Mark Casey who will depart in mid-September. In this role, Mr. Tyndall will have executive responsibility for all legal functions and will serve as the Company’s primary liaison to the Board of Directors. Additionally, he will continue to have responsibility for Mallinckrodt’s Government Affairs and Patient Advocacy functions.

Jason Goodson, who currently serves as VP of Business Operations, will assume the new title of EVP and Head of Corporate Development with executive responsibility for overseeing corporate strategy, business development and business intelligence.

Kassie Harrold, who currently serves as SVP and Chief Compliance Officer, will assume the new title of EVP and Chief Compliance Officer. With Mallinckrodt’s strong commitment to operating ethically and in a compliant and socially responsible manner, Ms. Harrold will continue to oversee the Company’s global integrity and compliance program and the execution of its Corporate Integrity Agreement and the Specialty Generics Operating Injunction.

Stephen Welch, who currently serves as SVP and General Manager of Specialty Generics, will assume the role of EVP and Head of Specialty Generics and will continue to lead the Specialty Generics business.

Hugh O’Neill, EVP and Chief Commercial and Operations Officer, will step down from his role and depart Mallinckrodt in mid-September, and Steven Romano, M.D., EVP and Chief Scientific Officer, will step down from his role and depart the organization at the beginning of December. In the interim, the Company is conducting a broad search for successors to lead the Commercial, Operations and Quality group and the Science & Technology group.

“Mallinckrodt is at an important inflection point, and the leaders of our go-forward Executive Committee will join me in guiding the business and further strengthening our focus on the patients we serve,” said Mr. Olafsson. “We are building a more diverse leadership team that blends the deep bench of talent we have at Mallinckrodt with new, experienced leaders, including Henriette, who brings significant experience from a range of corporate functions and an impressive track record of enhancing operations at pharmaceutical companies. In all, I’m confident that we are establishing the right team to build on our strong foundation, advance our business objectives and empower all our team members to grow with our company and reach their full potential, positioning Mallinckrodt to succeed and achieve sustainable growth over time.”

Mr. Olafsson continued, “I would like to express my gratitude to Mark, Hugh, Steve and Ian for their dedication and many contributions to Mallinckrodt. They are leaders who were instrumental in providing us a strong foundation from which we can build a Mallinckrodt that is even more productive, patient-centric and prosperous. All of us at Mallinckrodt wish them the best in their future endeavors and thank them for their years of service to the organization.”

For full biographies of each member of the Executive Committee, please visit here.

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