Galderma (“the Company”), rebranded from Nestlé Skin Health, today debuts as the world’s largest independent global dermatology company following the completion of the CHF 10.2 billion acquisition, first announced in May 2019. The acquisition, led by a consortium comprising the EQT VIII fund (“EQT”), Luxinva (a wholly-owned subsidiary of Abu Dhabi Investment Authority, “ADIA”), PSP Investments and other renowned institutional investors, was completed following exclusive negotiations with Galderma’s previous owner, Nestlé S.A. (“Nestlé”). Founded in 1981 and operated as a wholly owned subsidiary of Nestlé since 2014, Galderma offers a range of medical and consumer skin health solutions through three business units: Aesthetics, Prescription and Consumer Care, with combined revenues of CHF 2.8 billion and approximately 5,000 employees worldwide. The Company will be led in its next phase of growth and innovation by an experienced Management Team and Board, with proven track records in building sustainable high-growth businesses in pharmaceutical and consumer industries. Dr. Flemming Ornskov, MD, MPH assumes the position as CEO from Stuart Raetzman, who after having led Galderma and prepared the Company for its separation from Nestlé, now joins the Company’s Board. Flemming previously led the transformation of biopharmaceutical company Shire to become the global leader in rare diseases. Under his tenure, Shire grew from a USD 4 billion revenue business to USD 15 billion in five years, before the company was acquired by Takeda. Flemming commented: “The management and team at Nestlé Skin Health have done an excellent job creating a high-growth, leading dermatology business. I believe that Galderma, as a newly focused pureplay dermatology business, has outstanding prospects built on its existing quality portfolio, team and rich pipeline of innovation. I look forward to working with the talented Galderma team to further build on its success to date.” Thomas Dittrich joins Galderma as CFO, after co-leading Shire’s strong growth and cash flow generation as CFO. The Company’s Board is further reinvigorated with Thomas Ebeling, former CEO of Novartis Pharma, Novartis Consumer Health and ProSiebenSat1Media AG, joining as Chairman, and Sheri McCoy, former CEO of Avon Products and former Vice Chairman of Johnson & Johnson, where she was responsible for the pharma and consumer divisions, joining as a Director. The new owners intend to advance the current direction taken by Galderma’s management and focus on accelerating growth further by building on the company’s leading market positions and brands in a sector benefiting from strong innovation and demographic trends. Galderma will continue to invest in commercial excellence and innovation to meet the needs of health care professionals, patients, customers and consumers. The company will continue to increase presence in the US and China, launch new products and focus on international expansion. The company will keep its headquarters in Switzerland. Contacts: Galderma: Sébastien Cros, Head of Corporate Communications, email@example.com, +41 21 642 76 94 FTI Consulting: Ben Atwell, firstname.lastname@example.org +44 203 727 1000 For the official press release from Galderma, please click HERE.