ARTICLE | Management Tracks
Indivior CEO exits as activist shareholder Oaktree presses for change
Plus: Paul Hitchin succeeds Laetitia Rouxel as CFO of Evotec, and updates from Elekta, Forx, Abzena and more
February 28, 2025 1:59 AM UTC
Under continued pressure from activist shareholder Oaktree Capital Management, mental health company Indivior plc (LSE:INDV; NASDAQ:INDV) said it will replace CEO Mark Crossley with director Joseph Ciaffoni.
In a November 2023 letter, Oaktree urged Indivior’s board to hold management accountable for “value destruction” brought on by its strategic steps, and suggested that the company should “refresh” its board. Ciaffoni, a former president and CEO of Collegium Pharmaceutical Inc. (NASDAQ:COLL) and SVP at Biogen Inc. (NASDAQ:BIIB), was one of two new board members appointed in December as CFO Ryan Preblick left the company...