THE former chief executive of Invest NI has unexpectedly stepped down from his high profile role at Newry pharmaceutical giant Norbrook Laboratories after little more than a year.
Kevin Holland joined Norbrook as chief commercial officer in March 2022, having led the north's jobs creation agency since late 2019.
But Mr Holland (58) left the business on July 19 “for personal reasons”.
In a statement to the Irish News, Norbrook's chairman and chief executive Liam Nagle confirmed the departure.
He said: “I would like to thank Kevin for his contribution to Norbrook during his time with the business.
“We are sad to see him go and wish him well in his future endeavours.”
Mr Holland, originally from Bristol and a former British trade diplomat, had left Invest NI after a similarly short spell in charge, saying he “wanted to focus on a new area”.
He arrived at Norbrook with a strong background the world of pharma and life sciences, having spent 15 years with Baxter Healthcare in various senior roles across Europe and the Middle East before taking up a diplomatic role for the UK in China with a focus on life sciences and pharma.
His sudden departure comes just two months after Norbrook confirmed it was making 180 workers redundant as part of “significant changes in its operating environment”.
The company, a world-leading provider of veterinary pharmaceuticals for the health of farm and companion animals, is making the cuts across its three sites in Newry.
In a statement at the time Norbrook said: “Our decision has been taken after exhausting other options and to best position the company to return to growth as the market stabilises.
“We are currently exploring ways to minimise the need for compulsory redundancies, which will include offering voluntary redundancy packages, and we will enter into a period of consultation with our employees.”
In its last full trading year the company had sales of £232 million and generated an operating profit of £20.2 million.
Meanwhile Norbrook has appointed Oliver McAllister (47) as its chief financial officer following the retirement of Peter Johnston.
