Indivior PLC Announces Significant Changes in the Board of Directors to Enhance Management Structure

Indivior PLC Board of Directors Updates

Indivior PLC, listed on NASDAQ and LSE under the symbol INDV, has announced notable modifications to its Board of Directors as the company continues to align its governance with evolving strategic goals. This announcement follows earlier communications detailing director changes agreed upon with Oaktree Capital Management L.P. on December 17, 2024. The updates are poised to further streamline leadership and enhance operational efficiency.

Effective at the upcoming Annual General Meeting (AGM) in 2025, Indivior plans to reduce its Board to a total of seven directors. All current directors will stand for re-election to ensure continuity and refreshed oversight. Notably, in line with the company’s transition to a primary listing in the U.S. in 2024, both Peter Bains and Jo LeCouilliard opted not to seek re-election.

Another significant shift involves Robert Schriesheim, who has officially stepped down as an Independent Non-Executive Director, effective March 2, 2025. This departure is indicative of a larger strategy as the company seeks to bring in new perspectives and expertise.

To maintain a robust governance framework, Indivior will initiate a search for an Independent Non-Executive Director whose appointment must receive approval from Oaktree Capital. This new integration aims to enhance the Board's alignment with stakeholder interests, ensuring that the company remains responsive to market dynamics. If the search does not yield results by July 1, 2025, Oaktree will have the prerogative to nominate an additional Non-Executive Director to fill the vacancy. This will adjust the board's composition can combine insight and experience, bringing a total of eight members post-AGM.

Daniel Ninivaggi, previously appointed as an Independent Non-Executive Director, will assume the role of Chair of the Nomination Committee effective March 10, 2025. His experience is expected to be invaluable as the committee seeks to fill the new position. Barbara Ryan has been designated to replace Jo LeCouilliard as Chair of the Compensation Committee, effective at the end of the AGM.

Furthermore, Indivior has announced the discontinuation of its Operational Committee, a move suggesting a pivot towards more integrated management approaches.

Dr. David Wheadon, the Chair of Indivior, expressed deep gratitude towards departing directors Peter Bains, Jo LeCouilliard, and Robert Schriesheim for their unwavering commitment and contributions to advancing therapeutic solutions for patients facing opioid use disorders. His acknowledgment reinforces Indivior's mission to provide essential interventions for this critical health issue.

In conjunction with these leadership changes, Indivior and Oaktree have entered into an amended and restated Relationship Agreement. This revised agreement outlines mutual expectations and support to facilitate a seamless transition as the company moves forward.

As a pioneer in the development of treatments for substance use disorders, Indivior operates with the vision of ensuring that every patient worldwide has access to scientifically-backed therapeutic options. With headquarters in Richmond, Virginia, and a dedicated workforce of over 1,000 professionals globally, Indivior’s product offerings are accessible in more than 30 countries, enhancing lives through careful stewardship in pharmaceutical advancements.

For further details on Indivior and its ongoing efforts to assist in combating substance use disorders, visit Indivior's official website.