Concordia International (CXRX) CEO to Step Down

October 21, 2016 1:56 PM EDT

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Concordia International Corp. (NASDAQ: CXRX) today announced that Mark L. Thompson will step down as Chief Executive Officer of the Company following the appointment of a successor.

"Mark was our founder and successfully built Concordia into an international specialty pharmaceutical company. Under his leadership, Concordia today has a robust product pipeline and a platform that reaches patients in over 100 countries. He and the Board agreed that this would be the ideal time for a leadership change at the Company and the Board thanks him for his significant contribution over the years," said Jordan Kupinsky, Lead Independent Director.

A search process for a new CEO is underway.

"This is an important juncture for Concordia," continued Mr. Kupinsky. "We recently closed a very successful US$350 million debt offering and completed a strategic review of the business. With a portfolio of more than 200 products, a platform for continued international expansion, a strong commercial footprint and opportunities for organic growth, we look forward to building on our past successes."

Mr. Thompson will also step down from the Board of Directors, where he serves as Chairman, when a successor has been appointed.

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