Covidien Hires Bayer Healthcare President to Run Hazelwood-Based Pharmaceuticals Business
The company has hired Bayer executive Mark Trudeau as president of its $2 billion, Hazelwood-based pharmaceuticals segment, which Covidien is spinning off.
Covidien announced Thursday that it has hired Bayer executive Mark Trudeau as president of its $2 billion, Hazelwood-based pharmaceuticals segment, which Covidien is spinning off. He'll join Covidien officially on Feb. 1, according to a Covidien statement.
Trudeau is currently president and chief executive of Bayer Healthcare LLC, as well as president and chief executive of Bayer Healthcare Pharmaceuticals' US Region.
Similar to Covidien, Bayer's pharmaceuticals brings in over $2 billion annually.
Prior to joining Bayer, Trudeau served as senior vice president and general manager of the Bristol-Myers Squibb Immunology Division. Previous positions at Bristol-Myers Squibb included posts in marketing and assignments leading the company’s regional operations.
“Mark has an impressive track record of success in the pharmaceuticals industry, including valuable experience outside the U.S.," said José E. Almeida, Covidien's president and chief executive officer, in a statement. "We are delighted he is joining Covidien to lead the Pharmaceuticals segment, where he will play a critical role in fulfilling our vision of delivering unmatched value to our customers."
In his new role with Covidien, Trudeau succeeds Matthew K. Harbaugh, chief financial officer, Pharmaceuticals, who has served as interim president since November 2010, when former Pharmaceuticals president Timothy R. Wright resigned. Harbaugh will continue as chief financial officer of the business.
Covidien announced its plans to spin off its pharmaceuticals business, formerly Mallinckrodt, into a standalone public company on Dec. 15. Covidien currently expects that the completion of the transaction could take up to 18 months.