Mylan Promotes Bresch to CEO; Profits Rise
Nixon, Alex, Tribune-Review/Pittsburgh Tribune-Review
Robert Coury, CEO of Mylan Inc. since 2002, will step down from the chief executive post on Jan. 1 and be replaced by Mylan President Heather Bresch.
The 50-year-old Coury, who will become executive chairman of Mylan's board of directors, told analysts this morning the move was made to provide a smooth transition in leadership, not because of some problem with the generic pharmaceutical company.
"I do think that other Wall Street leaders ought to take note," Coury said on a conference call to discuss the company's third quarter financial results. "This company is in the best shape it's ever been. There's no better way to set an example."
Bresch, 42, has been with the Canonsburg-based company since 1992 and has been president since 2009. Bresch, the daughter of West Virginia Sen. Joe Manchin III, was the focus of a 2008 scandal over a West Virginia University master's of business administration degree the school awarded her even though she hadn't completed all the academic requirements to earn the degree. WVU's president and provost each resigned because of the scandal.
Bresch has been a leader in the generic pharmaceutical industry and has had a "impressive track record" as president of Mylan, Coury said. …