Full Breakdown
Perrigo Names Interim CEO
6/9/2026, 4:50:47 AM
Leadership Change
On Monday, Perrigo announced President and CEO Patrick Lockwood-Taylor stepped down after the board found his personal conduct violated the company’s Code of Conduct and core values. The board appointed board member since 2022 Albert A. Manzone as interim president and CEO and launched a search for a permanent successor.
Operational Enhancements and Workforce Reductions
In March, Perrigo launched an operational enhancement program to sharpen accountability and streamline decision-making, citing cost management and competitiveness. At the same time, it announced a 7 % workforce reduction as part of a two-year enterprise-wide effort to build a more agile platform.
Key Executives
Patrick Lockwood-Taylor’s departure follows a board finding unrelated to business performance. Albert A. Manzone brings over 30 years of global leadership in consumer goods, luxury hospitality, and health-care, and has served on Perrigo’s board since 2022. Board Chair Orlando D. Ashford oversees the transition.
Financial Outlook
Perrigo reaffirmed its full-year 2026 outlook, projecting All-In net-sales growth of (5.5)% to (1.5)%, All-In adjusted EPS of $2.00-$2.30, Core net-sales growth of (3.0)% to +1.0%, and Core adjusted EPS of $2.25-$2.55. It continues to market consumer self-care and over-the-counter health solutions.
Board Statements
Board Chair Orlando D. Ashford said the board “acted decisively” and has “full confidence” in Manzone, noting his knowledge of Perrigo’s self-care platform. Manzone said his interim focus is “continuity” to keep strategy on course and support the leadership team’s value-creation momentum. A company spokesperson said the operational enhancement program aims to sharpen accountability and streamline decision-making.
Verbatim Quotes
- “Perrigo’s core values are foundational to how we operate, and the Board expects all colleagues – especially our senior leaders – to uphold those standards at all times.” — Orlando D. Ashford, Chair, Perrigo Board
- “My priority as interim CEO is continuity: to keep that strategy on course and to support a talented leadership team as we sustain our momentum on value creation.” — Albert A. Manzone, Interim President and CEO
- “To manage costs and remain competitive now and in the future, Perrigo announced an operational enhancement program to further sharpen accountability and streamline decision making throughout the organization,” — Company spokesperson
- “The Board acted decisively and has full confidence in Albert, who brings more than 30 years of global leadership experience and a proven track record of transforming businesses at inflection points and creating value as well as deep knowledge of our business, people, and self-care platform.” — Orlando D. Ashford
Timeline
- March 2026 – Operational enhancement program launched; 7 % workforce reduction announced.
- Monday (approximately three months later) – Patrick Lockwood-Taylor resigned; Albert A. Manzone appointed interim CEO; search for permanent CEO began.
What’s Next
The board will continue the executive search for a permanent president and CEO while Manzone oversees day-to-day operations. Perrigo will persist with its operational enhancement initiatives and monitor performance against the reaffirmed 2026 financial targets.
