Former head of Linklaters and Musneci move to A&D

Pharmaceutical group A&D Pharma, with turnover worth 254.1 million euros in the first half of this year, has recruited as non-executive directors Robert Musneci, who previously worked for 15 years in pharmaceutical company GSK, and Michael Tetreault Schilling, managing partner of Linklater’s Romanian office from 2000 to 2007. The group has also reduced the number of members of the Board of Directors from 13 to 6, and has decided the appointment of Walid Abboud, one of the founding shareholders, as Chairman of the Board of Directors. The move comes at a point where the group and the pharmaceutical industry as a whole is undergoing one of its most difficult periods in the last ten years, with shareholders seeking solutions for the significant declines in profit margins, and for the migration of top managers. The changes in the Board of Directors take place just one year after A&D Pharma announced that it had put together a new, international management team, with executives who had previously worked in investment banking and with pharmaceutical giants.