Mylan Inc., co-founder and chairman Milan Puskar has resigned from the board and he will retire as a director from October 1. The board subsequently elected Mylan's vice chairman and CEO Robert J. Coury to succeed Puskar as chairman of the board.

Upon his election Coury stated: "On behalf of the board of directors and all of Mylan's employees and shareholders, I would like to personally thank Puskar for his many accomplishments; his impact on the industry; and for his service and leadership. Puskar will truly, truly be missed."

Coury continued, "I am also extremely honored to add the chairman role to my current responsibilities as CEO of Mylan. At this time, I would also like to announce that Rod Piatt, who has served as a member of our board of directors for the past five years, has been appointed vice chairman of the board of directors."

Puskar co-founded Mylan as a privately held drug distributor with Don Panoz in 1961. He has been a director of the company for the past 33 years, serving as its chairman since 1993. Puskar also was the company's president from 1976 to 2000 and CEO from 2000 until 2002. His tenure has been marked by a steady and strong leadership position among generic pharmaceuticals companies in the US. As one of the industry's pioneers, Puskar built a legacy on quality manufacturing, unparalleled customer service and policy leadership.

Puskar commented: "The time has come for me to step down as chairman, and I am more than confident that under Robert's passionate and strategic direction, Mylan will continue to provide leadership for an industry that is continually evolving. Robert has taken what we started almost 50 years ago and turned it into a global powerhouse with a vast reach that is unique among our peers. I would like to congratulate him on his remarkable accomplishments to date, and I wish him all the best as he executes on his vision for the next 50 years."