Malvern-based Endo Health Solutions said Wednesday morning that chief financial officer Alan G. Levin will leave in the fall and chief operating officer Julie H. McHugh is leaving immediately.
Endo installed a new chief executive officer, Rajiv De Silva, in March amid significant challenges on several fronts, notably the 2011 acquisition of American Medical Systems and a recent FDA decision on its re-formulated opioid painkiller, Opana ER.
Endo put out separate statements on each departure.
The company said Levin will stay with the company through the fall as De Silva and the board of directors searches for a successor.
"Endo is a great company, and I am confident that it will do well in this next phase in its evolution," Levin said in the company's statement on his planned departure. "I am proud to have played a role in its growth and diversification during my tenure as chief financial officer. After twenty years in corporate executive positions — the last four of which have been at Endo, I look forward to a fulfilling new chapter in my life and plan to be active in corporate board service and philanthropy, while traveling and spending more time with my family."
De Silva said of Levin in the statement, "The board and I want to thank Alan for his dedicated service and significant contributions to building Endo into one of the leading public diversified healthcare companies. I also want to recognize Alan's contributions to the ongoing assessment of the company's strategy and operations, which I launched upon my arrival at Endo. We expect a smooth transition and are confident in the plans we are putting in place to position Endo for the future and drive shareholder value."
There was no statement from McHugh in the press release on her departure
De Silva thanked McHugh, using only the same first sentence as he used to describe Levin: "The board and I want to thank Julie for her dedicated service and significant contributions to building Endo into one of the leading public diversified healthcare companies."