Allergan Inc. Announces Leadership Transition with William Shepherd as New Chairman

Strategic Insights -

As the 1996 new year approaches, Allergan Inc. is poised to maintain its momentum with a seasoned management team. Following Gavin Herbert's retirement as an executive officer and employee in March 1994, the board of directors has now decided to transition the chairman role to William C. Shepherd, effective January 1, 1996. Shepherd, who has been the company's president and CEO since 1992, will take on the additional title of chairman of the board, with Herbert assuming the role of Chairman Emeritus.

Key Takeaways:

  • William C. Shepherd will assume the title of chairman of the board of Allergan Inc. on January 1, 1996, and Gavin S. Herbert will become Chairman Emeritus.
  • Shepherd has been the company's president and CEO since January 1, 1992, and had previously served as president and chief operating officer from 1984 to 1991.
  • Shepherd joined Allergan in 1966 and has been a director since 1984, also serving on the boards of Ligand Pharmaceutical Incorporated, Furon Company, and Allergan Ligand Retinoid Therapeutics, Inc.
  • The leadership transition is part of Allergan's plan to utilize the experience and knowledge of long-serving executives like Gavin Herbert, who co-founded the company in 1950.
  • As Allergan nears a sales objective of $1 billion, the company's management team is confident in its prospects for continued growth.
  • Shepherd, 57, has a diverse background in research, operations, and leadership, with numerous directorships and board memberships.

Statistics:

  • 1950: Allergan was founded by Gavin S. Herbert.
  • 1966: William C. Shepherd began his career with Allergan in the research department.
  • 1984: Shepherd became president and chief operating officer, a role he held until 1991.
  • 1992: Shepherd was named CEO of Allergan, a position he still holds.
  • 1994: Gavin Herbert retired as an executive officer and employee of Allergan in March.
  • January 1, 1996: Shepherd will assume the title of chairman of the board.

Sources:

  • Business Wire, September 26, 1995.