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UPDATE 1-Mylan names Dr Pepper Snapple exec as CFO

Published: 30 May 2009 18:15:47 PST

* Jolene Varney also worked at Kimberly-Clark

* Mylan shares down 1.8 percent premarket

NEW YORK, May 28 - Generic drugmaker Mylan Inc on Thursday named a former finance executive from soft drink maker Dr Pepper Snapple Group Inc as its new chief financial officer.

Jolene Varney, who begins her role on June 8, most recently served as senior vice president of corporate finance with Dr Pepper Snapple. Varney led last year's separation of the beverage company from British confectionary company Cadbury Plc , according to Mylan.

Previously, Varney spent 18 years in various roles at Kimberly-Clark Corp , the maker of Huggies diapers and Kleenex tissues. Her Kimberly-Clark roles included global treasurer and general manager of Central and Eastern European operations.

U.S.-based Mylan, the world's No. 3 generic drugmaker, has transformed into an international company with its purchase of the generics business of Germany's Merck KGaA.

"At this stage in Mylan's history, it is critical that our new chief financial officer brings both a tested financial background and multinational operational breadth," Mylan Chairman and Chief Executive Officer Robert Coury said in a statement.

"Jolene has significant global experience having served in roles with increasing responsibility throughout every stage of her career."

Mylan in February announced that CFO Edward Borkowski would transition out of the role. CareFusion Corp, a company that is planned to form a spinoff from Cardinal Health Inc, earlier this month named Borkowski as its CFO.

Mylan shares fell 23 cents, or 1.8 percent, to $12.71 in premarket trading.


Source: Reuters

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