Investing.com -- Mylan Inc (O:MYL) chief financial officer John Sheehan announced on Friday that he will retire from the company, effective April 1.
Sheehan, who joined the third-largest pharmaceutical company in the U.S. in 2010, has led the company's global finance, financial planning and analysis, treasury, investor relations and tax functions over the last six years. Mylan will immediately begin a search for Sheehan's successor, the company said Friday.
"John has served with distinction as Mylan's CFO for the past six years, contributing significantly to Mylan's success during this time and helping to ensure that we delivered consistently strong financial performance," Mylan executive chairman Robert Coury said in a statement. "Importantly, John has demonstrated all of the qualities that make Mylan so special: dedication to our mission, passionate leadership and an unwavering commitment to doing what is right. I am extremely grateful to John for his service to Mylan and for helping to position the company so well for the future."
Before coming to Mylan, Sheehan spent two and a half years at Delphi Automotive, LLP in Detroit, where he oversaw all aspects of the company's global financing operations as its chief financial officer. Sheehan also spearheaded a comprehensive restructuring plan at the major automotive supplier and spent time as the company's chief accounting officer and controller. Sheehan, a former partner at KPMG, received a bachelor's degree in accounting from St. Bonaventure University.
"I am very grateful for the opportunity to have served as CFO of Mylan during such an exciting period of growth and expansion for the company," Sheehan said. "This has been the most professionally rewarding experience of my career and I am very proud of all that Mylan has accomplished. I am confident that the talented and dedicated team here will continue to drive strong growth and shareholder value going forward, and I look forward to handing the reins over to my successor."
After months of intense speculation, Mylan failed in its $26 billion hostile takeover bid of Dublin-based Perrigo Co (N:PRGO) in early-November. Mylan must wait until at least November before it makes its next attempt to acquire the biotech company.
Shares in Mylan inched up 0.08 or 0.16% to 49.50 in after-hours trading.