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Purdue Pharma L.P. Announces Leadership Changes

July 24, 2018

STAMFORD, Conn.--(BUSINESS WIRE)--Jul 24, 2018--Purdue Pharma L.P. today announced leadership changes to the Company’s Board of Directors and Executive Committee effective immediately. Steve Miller has been named Chairman of the Board of Directors of Purdue. In addition, Marc Kesselman has been appointed Senior Vice President and General Counsel. He will report directly to President and CEO Craig Landau, MD. Mr. Kesselman will be responsible for the company’s overall legal strategy, ethics and compliance, government affairs and corporate governance. Both Mr. Miller and Mr. Kesselman will provide senior-level strategic counsel to the business as the company continues to take meaningful steps to reduce opioid abuse and addiction and pursue new medications for patients suffering from cancer and select central nervous system (CNS) disorders.

“We are thrilled to welcome Steve and Marc to the organization. Steve is a world-class leader who is uniquely qualified to help us navigate the business challenges in front of us,” said Craig Landau, MD, president and CEO, Purdue Pharma. “Similarly, Marc is an experienced General Counsel who will be a valuable addition to our outstanding legal and leadership teams at Purdue. I look forward to working with them both as we diversify beyond our historic focus on pain medications through emphasis on internal and partnered research and development programs, and continue to take meaningful steps to address the opioid crisis.”

Steve Miller, Chairman of the Board

Mr. Miller has spent his nearly 50-year career helping companies through challenges. He authored the 2008 book, The Turnaround Kid. He has served in senior leadership positions, including as Chairman or CEO, at a number of automotive, financial and industrial companies. Steve is credited with leading many critical corporate turnarounds, including the rescue of Chrysler in 1981. Following his ‘retirement’ in 1993, he has served on more than a dozen corporate boards including U.S. Bank, United Airlines, Dow DuPont and as Chairman of insurance company AIG (2010 to 2015).

“Working with Purdue and its board during this transformational time is an exciting opportunity for me,” said Miller. “The company has the intellect and commitment to build a strong and diversified business focused on addressing needs of patients and healthcare professionals, and I look forward to participating in this journey.”

Mr. Miller is a graduate of Stanford University and received his J.D. from Harvard Law School and his MBA from Stanford University Graduate School of Business.

Marc Kesselman, General Counsel, Purdue Pharma L.P.

Mr. Kesselman joins Purdue most recently from similar roles in large multi-national companies across the food and beverage industry. He previously served as General Counsel of the U.S. Department of Agriculture and Deputy General Counsel of the White House Office of Management & Budget. He also was a Trial Attorney for the Civil Division of the Department of Justice, where he earned the John Marshall Award, the Attorney General’s highest recognition for trial litigation.

“I am excited to join Purdue’s leadership team at this pivotal time for the company,” said Kesselman. “Purdue has in place talented legal, compliance, and government affairs teams and I’m looking forward to working with them and the rest of my new colleagues to build a sustainable and patient-focused business operating with the highest ethical standards.”

Early in his career, Kesselman worked as an attorney in the Washington, DC office of Ropes & Gray. He also served as a Law Clerk for the Honorable Julia S. Gibbons, then the Chief Judge of the U.S. District Court for the Western District of Tennessee.

He graduated with high honors from Cornell University, and with honors from the University of Pennsylvania Law School.

Mr. Kesselman succeeds Maria Barton, who has led the company’s law department with distinction and integrity and will be pursuing opportunities outside of Purdue. Ms. Barton will remain with the company during a brief transition period.

About Purdue Pharma Purdue Pharma L.P. develops and provides prescription medicines that meet the evolving needs of healthcare professionals, patients, and caregivers. We were founded by physicians and we are currently led by a physician. Beyond our efforts to provide quality medications, Purdue is committed to supporting national, regional and local collaborations to drive innovations in patient care. Privately held, Purdue is pursuing a pipeline of new medications and technologies through internal research & development and strategic industry partnerships. For more information, please visit www.purduepharma.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20180724005437/en/

CONTACT: Media

Purdue Pharma L.P.

Robert Josephson, +1-203-588-7114

Robert.Josephson@pharma.com

KEYWORD: UNITED STATES NORTH AMERICA CONNECTICUT

INDUSTRY KEYWORD: HEALTH ONCOLOGY PHARMACEUTICAL RESEARCH SCIENCE MANAGED CARE

SOURCE: Purdue Pharma L.P.

Copyright Business Wire 2018.

PUB: 07/24/2018 08:30 AM/DISC: 07/24/2018 08:31 AM

http://www.businesswire.com/news/home/20180724005437/en

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