Covidien appoints head of pharmaceuticals division

Covidien has announced the appointment of Mark Trudeau as president of its pharmaceuticals division, as it makes preparations to spin off the business unit.

Mr Trudeau is the current president and chief executive officer of Bayer HealthCare, with the 25-year veteran of the healthcare industry set to take up his new role at Covidien on February 1st 2012.

The business leader – who is being appointed as the successor to interim president Matthew Harbaugh – also counts Bristol-Myers Squibb and Lilly among his former employers.

Jose Almeida, president and chief executive officer of Covidien, said: "We are delighted he is joining Covidien to lead the pharmaceuticals segment, where he will play a critical role in fulfilling our vision of delivering unmatched value to our customers."

Over the next 18 months, the pharmaceuticals unit will be spun out into a standalone public company, according to plans revealed last month.

Covidien believes this spinoff process will allow both of the resulting companies to pursue their respective growth strategies in a more flexible manner.