Sanjeev Narula CFO Pfizer Upjohn appointed as incoming CFO of Viatris
Viatris is the new company that will result from the planned combination of Mylan and Upjohn
Hertfordshire, Pittsburgh & New York: Mylan N.V. and Pfizer have announced that Sanjeev Narula, current chief financial officer (CFO) of Upjohn, a division of Pfizer, has been named incoming CFO of Viatris, the new company that will result from the planned combination of Mylan and Upjohn. Upon closing, which is expected in mid-2020, Viatris will be a new champion for global health with a portfolio of approximately 3,000 brands and molecules and a commercial presence in 165 countries.
Mr. Narula's strong, 16-year history with Pfizer encompasses several financial leadership positions, where he has worked under the leadership of Pfizer's Chief Financial Officer and Executive Vice President of Business Operations and Global Supply, Frank D'Amelio. At Upjohn, he has worked closely with incoming Viatris CEO Michael Goettler and has developed a deep understanding of financial and commercial dynamics across key geographies, including emerging markets, particularly China. He also has broad knowledge of the generic and branded pharmaceutical business, having previously served as Vice President, Finance, for Pfizer's Essential Health Business.
Since joining Pfizer in 2004, Mr. Narula has also served as the Finance lead for the Primary Care Business Unit, the largest commercial division at the time; led the creation and expansion of a centralized business services unit; and also has diversified experiences in controllership, external reporting, financial planning & analysis (FP&A), business development and audit functions from Pfizer and previous experience. Prior to joining Pfizer, Mr. Narula had financial and operational leadership roles at American Express and Xerox.
Pfizer Chairman and CEO Dr. Albert Bourla said: "Sanjeev's global experience, proven leadership, and deep industry knowledge will serve Viatris employees, customers and shareholders well. I am very confident that his commitment to excellence will be instrumental as the new company charts its path as a champion for global health."
Pfizer Chief Financial Officer and Executive Vice President of Business Operations and Global Supply, Frank D'Amelio said: "Sanjeev is a committed global leader with deep knowledge of the Upjohn portfolio, and his vast experience in finance and shared services will bring significant value to Viatris as the Chief Financial Officer. I have worked directly with Sanjeev throughout his career at Pfizer and believe he will be a strong addition to the Viatris leadership team."
Mylan Chairman and future Viatris Executive Chairman Robert J. Coury said: "Viatris has an unparalleled opportunity to fill a unique role in the pharmaceuticals market as a global healthcare gateway, providing greater access to more medicines for patients around the world.
I've had the privilege of spending a great deal of time directly with Sanjeev over the past few months. He brings strong operations, organizational structure and development, FP&A, and financial controls experience, as well as an understanding of the pharmaceutical industry that give him exactly the right profile to help ensure that the new company delivers on this opportunity and its commitment to create shareholder value. Sanjeev's deep-rooted experience at Pfizer, which includes significant accomplishments in process optimization and automation, capital allocation, and internal and external reporting will prove invaluable for Viatris. We are fortunate to appoint him to this seasoned management team."
Group President, Upjohn, and incoming Viatris CEO Michael Goettler said, "I've had the privilege of working closely with Sanjeev to establish the Upjohn business and now prepare for the launch of Viatris. His dedication, extensive knowledge of the pharmaceutical industry and deep financial and operational expertise will be essential to the Viatris leadership team as we work to ensure that the new company is set up for success."
Mr. Narula said: "I am deeply honored by the opportunity to join Viatris as CFO and am energized by our shared commitment to become a champion for global health. Since the announcement of the transaction in July, I have spent considerable time getting to know the talented Mylan organization and believe that together we have two experienced teams that share a passion for providing patients around the world with access to medicines. I look forward to partnering closely with the Viatris leadership team and Board of Directors, as well as with the investment community, to help ensure the strength of Viatris' financial performance through consistent earnings and cash flow growth, an attractive dividend and shareholder-focused capital policies."
As the Viatris CFO, Mr. Narula will report to Michael Goettler, who was previously announced as incoming CEO of Viatris. The Mylan and Upjohn teams will continue to work together over the coming months to fill additional leadership positions and further its comprehensive integration planning efforts. The transaction remains on track to close in mid-2020, subject to receipt of regulatory approvals, Mylan shareholder approval, and the satisfaction of other customary closing conditions. Mylan and Upjohn will continue to operate as independent organizations under their existing organization structures until the transaction closes.