Jazz CEO Bruce Cozadd To Retire By 2025, Board Initiates CEO Search
Jazz Pharmaceuticals CEO Bruce Cozadd announces plans to retire by 2025; a Board-led search is underway.
Breaking News
Dec 17, 2024
Simantini Singh Deo
Jazz Pharmaceuticals plc announced today that Bruce Cozadd, Co-Founder, Chairperson, and CEO, plans to retire as Chief Executive Officer following the appointment of his successor, which is expected by the end of 2025. The company’s Board of Directors will begin a formal search to identify a new CEO, aiming to complete the process within 12 months. Once a successor is in place, Mr. Cozadd will step down as CEO but continue serving as Chairperson of the Board, providing strategic oversight and guidance. Jazz Pharmaceuticals reaffirmed its 2024 full-year revenue forecast of $4.0 to $4.1 billion.
Mr Bruce Cozadd said in a statement, "It has been the honour of my career to co-found and lead Jazz alongside such a talented team of researchers, scientists and business professionals. Guided by a commitment to innovate for patients and their families, our team has built Jazz into a leading biopharmaceutical company. With great momentum and the business in a strong position entering 2025, I feel confident that Jazz's next leader will be well-positioned to build on our legacy of growth and success and continue delivering for our patients, employees, partners and shareholders for years to come."
Mr. Cozadd, who co-founded Jazz in 2003, initially served as Executive Chairman before assuming the roles of Chairperson and CEO in 2009. Over his 22-year tenure, he played a pivotal role in transforming Jazz into a leading global biopharmaceutical company with a diverse portfolio spanning neuroscience and oncology. Under his leadership, Jazz achieved significant growth through strategic acquisitions and organic expansion. Today, the company boasts a differentiated pipeline and remains committed to delivering life-changing therapies for patients with unmet needs.
Rick Winningham, Lead Independent Director, also stated, "On behalf of the Board, I want to express our deepest gratitude to Bruce for his leadership, vision and unwavering commitment to the Company. His dedication to patient-centric care and fostering a collaborative, innovative culture has been instrumental in Jazz's success. The Board has been preparing for this transition through rigorous succession planning efforts, including prioritising internal leadership's ongoing development and readiness.”
He further added, “As part of a thorough and diligent process, a Succession Committee of the Board of independent directors will lead a comprehensive and thoughtful search for Jazz's next CEO, which we intend to complete in 2025. The search will consider internal and external candidates. The Board is focused on appointing a successor who will uphold Jazz's mission and core values and advance our growth strategy, driving value creation for the Company."
Mr Cozadd’s vision and dedication have helped foster a strong, patient-centred culture supported by Jazz's 2,800 employees worldwide. His focus on innovation and creating a purpose-driven workplace has positioned Jazz as a market leader.