Mallinckrodt (MNKKQ) has released an update to notify the public and investors about its officers.
Mallinckrodt plc extended the employment of its President and CEO, Sigurdur Olafsson, through a thirty-day extension, despite his initial resignation notice effective January 29, 2024. This extension maintains his existing compensation and benefits, and offers a bonus and reimbursement for legal and tax advisory fees amid negotiations for a new agreement. If a new contract is not reached, Olafsson will receive severance as per the original terms. The extension supports Mallinckrodt’s efforts to reconstitute its Board of Directors.
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