Perrigo Navigates Earnings Storm Weathering Change At Helm

The OTC private label giant promotes John Hendrickson from president to CEO after Joseph Papa resigns to take the same post at beleaguered specialty pharma Valeant Pharmaceutical International. A lower earnings forecast combined with the leadership change sent Perrigo's share price down 18.09%.

John Hendrickson shifts from repairing Perrigo Co. PLC's European consumer health care products business to steering the OTC private label giant out of an earnings slump six months after the former CEO promised shareholders substantial growth to fight off a hostile takeover bid.

The firm on April 25 promoted Hendrickson from president to CEO after Joseph Papa resigned a day earlier as chief...

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