BOCA RATON, Fla.--(BUSINESS WIRE)--On behalf of the Board of Directors of TherapeuticsMD, Inc. (NASDAQ: TXMD), an innovative, leading women’s healthcare company, Chairman Tommy G. Thompson today announced the appointment of Karen L. Ling to the Company’s Board of Directors.
“We are excited to welcome Karen to the TherapeuticsMD Board of Directors. Karen is an accomplished executive with experience leading the human resources functions at a variety of companies and has spent the majority of her career in women’s health,” said former Governor and Secretary of Health and Human Services, Thompson. “We believe that Karen’s skill set will further complement our Board of Directors and our Company’s recent transformation into a commercial organization.”
“I'm delighted to be joining the Board of Directors of TherapeuticsMD. With its mission to improve the health and welfare of women, TherapeuticsMD brings much needed innovation and investment to the women’s healthcare market. This appointment also has special meaning for me. I built my career at Wyeth, Merck and Allergan when those companies had significant women's healthcare presences,” said Ms. Ling. “With TherapeuticsMD, I join a company dedicated to women’s healthcare and developing products with large, undervalued market opportunities. I look forward to working with the Board and management team.”
Ms. Ling is an accomplished human resources executive with more than 25 years of pharmaceutical experience. Ms. Ling joined American International Group, Inc. (AIG) as its Executive Vice President and Chief Human Resources Officer in July 2019 and is responsible for aligning AIG’s talent strategy with the company’s long-term strategic, operational and financial objectives. She oversees all aspects of human capital management, including talent development, talent acquisition, training, compensation and benefits, and diversity and inclusion. Ms. Ling joined AIG from Allergan plc, where she served as Executive Vice President and Chief Human Resources Officer from 2015 to 2019. Prior to its acquisition of Allergan, Ms. Ling was Senior Vice President, Human Resources and Chief Human Resources Officer at Actavis plc. Previously Ms. Ling was Senior Vice President of Human Resources for Merck Global Human Health and Merck Consumer Care. Prior to that role, she was Vice President of Global Compensation and Benefits at Merck. Prior to its acquisition by Merck, she was Group Vice President, Global Compensation & Benefits at Schering-Plough. Ms. Ling also spent 14 years at Wyeth in various positions of increasing responsibility, most recently as Vice President of Employee Benefits and Compensation. Prior to joining Wyeth, she practiced corporate law with Goldstein and Manello, P.C. in Boston. Ms. Ling holds a J.D. from Boston University School of Law and a B.A. from Yale University.
As part of the Board’s continued review of its composition and effectiveness, the Board has reduced its size from eleven directors to nine directors. In connection with this reduction in size, directors Robert V. LaPenta, Jr. and Jane Barlow, M.D. agreed to resign from the Board, effective April 16, 2020. Following the appointment of Ms. Ling, the Company’s Board of Directors consists of nine members with no vacancies.
In connection with Mr. LaPenta, Jr.’s resignation, Mr. Angus C. Russell was appointed as the Chairman of the Company’s Audit Committee and Mr. Paul M. Bisaro was appointed as a member of the Audit Committee.
“Our Board of Directors has determined that this is the right time to reduce the size of the Board to nine members. As a result of and in support of this action, Rob LaPenta and Jane Barlow have decided to resign from the Board now in advance of the Company’s 2020 Annual Meeting of Stockholders. The Board and I would like to thank Rob and Jane for their service and contributions to the Company. Rob joined the Board in 2012 and was an integral advisor on financial matters during our drug development process. Jane has provided invaluable guidance to the Company during its three commercial launches,” said former Governor and Secretary of Health and Human Services Thompson. “We wish Rob and Jane well in their future endeavors and are happy that both have agreed to remain advisors to the Company.”
About TherapeuticsMD
TherapeuticsMD, Inc. is an innovative, leading healthcare company, focused on developing and commercializing novel products exclusively for women. Our products are designed to address the unique changes and challenges women experience through the various stages of their lives with a therapeutic focus in family planning, reproductive health, and menopause management. The Company is committed to advancing the health of women and championing awareness of their healthcare issues. To learn more about TherapeuticsMD, please visit www.therapeuticsmd.com or follow us on Twitter: @TherapeuticsMD and on Facebook: TherapeuticsMD.
