LEO Foundation strengthens ownership with new structure and governance model
The LEO Foundation introduces a new structure and governance model in order to play a more active role as the sole owner of LEO Pharma, strengthening both the foundation and the company. Jesper Mailind will assume the position as CEO for the LEO Foundation.
Effective 1 April 2017, the LEO Foundation will establish its own independent organisation, which will be responsible for managing LEO Pharma’s assets and providing grants. The move is the latest step in the journey initiated by the LEO Foundation in 2009 with the aim of securing LEO Pharma’s long term development.
“The LEO Foundation’s main purpose is to ensure that LEO Pharma successfully continues to grow and develop as an independent, global healthcare company. The best way of doing this is through active ownership. This lets LEO Pharma focus on developing and marketing treatment solutions while other activities, such as asset management, are taken care of by an independent organisation,” says LEO Foundation Chairman Lars Olsen.
The change allows LEO Pharma to focus even more on its core business as a healthcare company, while allowing the LEO Foundation to focus on asset management as well as on grants to research and activities that increase disease awareness, disease understanding and access to treatment within dermatology.
“This is part of an ongoing modernisation of the LEO Foundation and will strengthen both the foundation and the company. It is a natural next step in the journey that began some seven years ago, which has been pivotal in making LEO Pharma the company it is today – a global leader in the treatment of skin diseases,” says Jukka Pertola, Chairman of LEO Pharma.
Jesper Mailind new CEO for LEO Foundation
To support LEO Foundation’s development, Jesper Mailind has been appointed as CEO with effect from 1 April 2017. Recently, Jesper Mailind consolidated and developed the foundation-owned engineering company Alectia. With previous positions as CEO for GN Resound and Senior Vice President at Nycomed Pharma (now Takeda), Jesper has ex-tensive experience relating to both healthcare and foundation ownership. And he sees significant opportunities to strengthen LEO Pharma’s development through active foundation ownership.
“LEO Pharma has undergone extensive change in recent years and now has a unique opportunity to realise its vision of becoming the global dermatology care partner for patients, healthcare professionals and partners. As an active owner, the foundation can contribute towards creating the best possible conditions for the company – both in terms of financial independence and advancing research, knowledge and other activities within skin diseases. It’s a hugely exciting task, which I’m really looking forward to,” says Jesper Mailind.
LEO Pharma will continue to have funds to invest in research and other activities that support the company’s operations and development. In the future, some of LEO Pharma’s profit will be transferred to the foundation. The LEO Foundation’s investment profile will not change. Due to the foundation’s sole ownership of LEO Pharma, all profit will continue to be reinvested in developing new treatments and improving conditions that can help people with skin diseases.