Allergan EVP And CFO Tessa Hilado Decides To Retire - Quick Facts

(RTTNews) - Biopharmaceutical company Allergan plc (AGN) announced Monday that Tessa Hilado, Executive Vice President and Chief Financial Officer, has decided to retire from the company.

The Company has initiated a search to fill the position. Hilado will continue in her current role until a successor is named to ensure a smooth transition.

Hilado said, "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. I am proud of the improvements we have made in each of these areas and the talent that we have attracted to our finance organization over that time, including new leaders for Commercial Finance, Tax, Research & Development Finance and Investor Relations & Strategy."

Saunders noted that Hilado has led a successful transformation of finance organization. "We completed and financed the acquisition of Allergan, divested our global generics business to Teva, steadily paid down debt, refinanced debt at a lower interest rate and completed actions to return cash to shareholders by instituting our first dividend and completing $15 billion in stock repurchases, including a $10 billion accelerated stock purchase," said Saunders.