Mylan Co-Founder Retires As Chairman

Generic drugmaker says Milan Puskar, who co-founded the company, retired as chairman of the board on Thursday.

PITTBURGH (AP) -- Generic drugmaker Mylan Inc. says Milan Puskar, who co-founded the company, retired as chairman of the board on Thursday.

Mylan said Puskar will retire as a director on Oct. 1. Chief Executive and Vice Chairman Robert Coury was elected as the company's new chairman. Board member Rod Piatt was named vice chairman.

Puskar, who goes by "Mike," co-founded Mylan in 1961 and had been its chairman since 1993. He was president for 25 years until retiring in 2000, and was Mylan's CEO from 2000 to 2002.

In afternoon trading, Mylan stock added 15 cents to $13.42.

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