Following the approval by the shareholders' meeting of Stallergenes (Paris:GENP) of 26 June 2015 of the pending merger with Ares Allergy Holdings Plc ("Ares Allergy"), the newly formed board of directors appointed Fereydoun Firouz its Chairman and Chief Executive Officer at its meeting today. Fereydoun brings extensive experience in global commercial markets, and a strong record of accomplishment in identifying growth opportunities and building value in businesses around the world. Fereydoun Firouz joins Ares Allergy from Gurnet Point Capital LLC, the US healthcare and life science investment fund, where he was a Managing Partner. Prior to this, he was President and CEO of Merck Serono US and a member of the Executive Management Board of Merck Serono.
Patrick Langlois, the Vice-Chairman of Ares Allergy, announced "The Board is delighted that Fereydoun is joining Ares Allergy. His leadership experience within a large, highly successful global pharmaceuticals firm, when allied with his deep knowledge of the key markets in which Ares Allergy will operate, makes him ideally suited to this role. His drive will harness and build the strengths of the Stallergenes and Greer franchises as he helps integrate them and make the most of our growth strategy around the world."
Stefan Meister, the Group Chief Operating Officer of Waypoint Capital, which is the majority shareholder in Ares Allergy, also commented, "We are pleased to have someone with Fereydoun's experience, capabilities, and track record of delivery at the head of the Group. This marks a new chapter in the growth of our world class, global healthcare business."
"I am looking forward to leading Ares Allergy", said Fereydoun. "By bringing together these two successful companies – both leaders in their key markets – we will start to realise our vision of building the worldwide leader in the expanding allergy immunotherapy space. The combination of our two companies will put us in a unique position to grow and bring new, innovative solutions for allergy care."
"Throughout this time, we intend to develop and execute a global strategy that will deliver solid results and make substantial organic and inorganic investments that benefit all shareholders."
The merger is expected to close in September 2015 at a date to be set by the English Court after the shareholders' meeting of Ares Allergy approves the merger on 4 August 2015. Upon completion of the merger, the shares of Stallergenes will be delisted from Euronext Paris and the shares of Ares Allergy listed on Euronext Paris. A prospectus approved by the AMF will be published few days before the listing of the shares of Ares Allergy.
ABOUT ARES ALLERGY HOLDINGS PLC
Headquartered in London (UK), Ares Allergy is a global healthcare company specialising in the diagnosis and treatment of allergies through the development and provision of allergy immunotherapy products and services. Ares Allergy is the parent company of Greer Laboratories (whose registered office is in the U.S.) and will become the parent company of Stallergenes (whose registered office is in France and which is listed on Euronext Paris) upon completion of the merger of Stallergenes with and into Ares Allergy.
As described in the information document1 published by Stallergenes and Ares Allergy on 27 May 2015, the composition of the board of Ares Allergy has been changed in connection with its re-registration as a public limited company on 14 July 2015. Chaired by Fereydoun Firouz, it also comprises four former Stallergenes directors: Patrick Langlois (senior independent director), Jean-Luc Bélingard (independent director), Paola Ricci and Stefan Meister.