Perrigo Co., a pharmaceutical company that recently launched the first over-the-counter birth control pill in the United States, is reinstating Todd Kingma as its interim general counsel. Kingma retired from the company in August 2022 after a 19-year tenure. He will succeed Kyle Hanson, who will transition to the role of special counsel for strategic litigation until September 15 and subsequently move to an advisory role through the end of the year.
The reinstatement of Kingma comes at a significant moment for Perrigo, as the company has recently received regulatory approval for its Opill oral contraceptive. This approval marks a milestone in the pharmaceutical industry, offering nonprescription access to birth control for the first time in the U.S. market. The company, co-headquartered in Dublin, Ireland, and Grand Rapids, Michigan, made headlines earlier this year with a $97 million settlement regarding a class action lawsuit connected to a failed acquisition bid by Mylan NV in 2015.
Hanson, who was brought in from her previous role at Wolverine World Wide Inc. two years ago, will continue to contribute to the company in a new capacity. Her compensation during her tenure with Perrigo has been substantial, with recent proxy statements revealing that she received nearly $4.6 million over the past two fiscal years. Additionally, she is set to receive further benefits as part of her transition agreement, which includes the vesting of her equity awards and a cash bonus based on specified milestones.
The legal landscape at Perrigo remains dynamic as Kingma’s interim return is structured to provide continuity in leadership while the company conducts a search for a permanent general counsel. For more detailed information, refer to the original article from Bloomberg Law.