Bruce Cozadd,
Co-Founder, Chairperson and CEO, Plans to Retire as CEO Upon
Appointment of Successor by the End of 2025; Will Continue as Chair
of the Board
Mr. Cozadd Has Led Growth of Company from
Founding to $4 Billion+ in 2024 Expected Total Revenue
Board Will Lead Comprehensive Internal and
External Search for New CEO; Intended to be Completed in
2025
DUBLIN, Dec. 16,
2024 /PRNewswire/ -- Jazz Pharmaceuticals plc
(Nasdaq: JAZZ) today announced that Bruce
Cozadd, Co-Founder, Chairperson and Chief Executive Officer
(CEO), has informed the Board of Directors of his intent to retire
from his role as CEO upon appointment of the Company's next leader,
expected by the end of 2025. The Board will commence a formal
search process to identify a new CEO, which is anticipated to
conclude within 12 months. Mr. Cozadd will retire as CEO once a
successor has been appointed and will continue serving as
Chairperson of the Board of Directors, providing ongoing leadership
and strategic guidance to the Company. Jazz remains on track to
meet its full year 2024 total revenue guidance of between
$4.0 billion and $4.1 billion.
Mr. Cozadd co-founded Jazz in 2003, serving as Executive
Chairman through 2009 before being appointed Chairperson and CEO in
April 2009. During his nearly 22-year
tenure, he has been instrumental in transforming Jazz into a
diversified global biopharmaceutical company. Today, Jazz has a
robust, commercialized portfolio in neuroscience and oncology and a
differentiated pipeline of assets with significant market
opportunities. Driven by Mr. Cozadd's vision and leadership, Jazz
has developed into a market leader with a patient-centric approach
to R&D and an unwavering commitment to providing life-changing
treatments for patients with unmet medical needs. Mr. Cozadd
successfully led a strategy to drive substantial value through
strategic acquisitions and organic growth. His commitment to
building a company where the culture reflects its purpose to serve
patients and be a great place to work is upheld by Jazz's
approximately 2,800 highly engaged employees located around the
globe.
"It has been the honor of my career to co-found and lead Jazz
alongside such a talented team of researchers, scientists and
business professionals. Guided by a commitment to innovate on
behalf of patients and their families, our team has built Jazz into
a leading biopharmaceutical company," said Mr. Cozadd. "With great
momentum and the business in a strong position entering 2025, I
feel confident that Jazz's next leader will be well-positioned to
build on our legacy of growth and success, and continue delivering
for our patients, employees, partners and shareholders for years to
come."
"On behalf of the Board, I want to express our deepest gratitude
to Bruce for his leadership, vision and unwavering commitment to
the Company. His dedication to patient-centric care and fostering a
collaborative, innovative culture has been instrumental in Jazz's
success," said Rick Winningham, Lead
Independent Director. "The Board has been preparing for this
transition through rigorous succession planning efforts, including
prioritizing the ongoing development and readiness of internal
leadership. As part of a thorough and diligent process, a
Succession Committee of the Board made up of independent directors
will lead a comprehensive and thoughtful search for Jazz's next
CEO, which we intend to complete in 2025. The search will consider
both internal and external candidates and the Board is focused on
appointing a successor who will uphold Jazz's mission and core
values and advance our growth strategy, driving value creation for
the Company."
About Jazz Pharmaceuticals
Jazz Pharmaceuticals plc
(Nasdaq: JAZZ) is a global biopharma company whose purpose is to
innovate to transform the lives of patients and their families. We
are dedicated to developing life-changing medicines for people with
serious diseases — often with limited or no therapeutic options. We
have a diverse portfolio of marketed medicines, including leading
therapies for sleep disorders and epilepsy, and a growing portfolio
of cancer treatments. Our patient-focused and science-driven
approach powers pioneering research and development advancements
across our robust pipeline of innovative therapeutics in oncology
and neuroscience. Jazz is headquartered in Dublin, Ireland with research and development
laboratories, manufacturing facilities and employees in multiple
countries committed to serving patients worldwide. Please visit
www.jazzpharmaceuticals.com for more information.
Caution Concerning Forward-Looking Statements
This
press release contains forward-looking statements, including, but
not limited to, statements related to: the Company's growth
prospects and future financial and operating results, including the
Company's 2024 total revenue guidance and the Company's
expectations related thereto; and the Company's expectations with
respect to the timing and outcome of the search process for the
Company's next chief executive officer. These forward-looking
statements are based on the Company's current plans, objectives,
estimates, expectations, and intentions and inherently involve
significant risks and uncertainties.
Actual results and the timing of events could differ materially
from those anticipated in such forward- looking statements as a
result of these risks and uncertainties, which include, without
limitation, risks and uncertainties associated with: identifying
and attracting a qualified candidate to serve as the Company's next
chief executive officer on the Company's anticipated timing or at
all; maintaining or increasing sales of, and revenue from, Xywav,
Rylaze and Epidiolex/Epidyolex and other marketed products; the
introduction of new products into the U.S. market that compete
with, or otherwise disrupt the market for the Company's products
and product candidates; the Company's ability to achieve targeted
or expected future financial performance and results, including the
Company's 2024 total revenue guidance; and other risks and
uncertainties affecting the Company, including those described from
time to time under the caption "Risk Factors" and elsewhere in the
Company's Securities and Exchange Commission filings and reports,
including the Company's Annual Report on Form 10-K for the year
ended December 31, 2023, as
supplemented by the Company's Quarterly Report on Form 10-Q for the
quarter ended September 30, 2024, and
future filings and reports by the Company. Other risks and
uncertainties of which the Company is not currently aware may also
affect the Company's forward-looking statements and may cause
actual results and the timing of events to differ materially from
those anticipated.
Contacts:
Investors:
Jeff Macdonald
Executive Director, Investor Relations
Jazz Pharmaceuticals plc
InvestorInfo@jazzpharma.com
Ireland +353 1 634 3211
U.S. +1 650 496 2717
Media:
Kristin
Bhavnani
Head of Global Corporate Communications
Jazz Pharmaceuticals plc
CorporateAffairsMediaInfo@jazzpharma.com
Ireland +353 1 637 2141
U.S. +1 215 867 4948
Logo -
https://mma.prnewswire.com/media/272253/Jazz_Pharmaceuticals_New_Logo.jpg
View original
content:https://www.prnewswire.co.uk/news-releases/jazz-pharmaceuticals-announces-ceo-succession-plan-302332986.html