Allergan CFO to step down
Tessa Hilado has announced she will be leaving the company
US pharmaceutical company, Allergan’s Chief Financial Officer, Tessa Hilado, has announced she is to step down.
The 53-year-old, who has been CFO since 2014, is leaving to retire and will exit the organisation once her successor is named.
The announcement coincided with the company authorising a $2 billion (31.48 billion) stock repurchase, which has sent its shares up after they saw a fall of around 20% since 2014. Allergan also completed a $15 billion stock repurchase earlier this year.
Allergan has not disclosed who they are considering for Hilado’s replacement but said it had begun its search for a new CFO.
Hilado said of her departure: “When I joined Allergan in December 2014, I promised Brent Saunders, Chairman and CEO, that I would stay three years to help transform the finance organization, institute better systems and financial controls and improve the balance sheet.
“Now is a good time to announce my retirement from Allergan, so that we have time to identify my successor and orchestrate a smooth hand-off to continue Allergan’s progress.”
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