OAKVILLE, Ont. -- Drug company Concordia International Corp. (CXR.TO, CXRX.O) has appointed former Sagent Pharmaceuticals chief executive Allan Oberman as its new chief executive, effective Nov. 14.

He succeeds Mark Thompson, who will also step down as chairman of Concordia's board of directors. The company announced in October that Thompson would be leaving after a replacement was found.

Oberman has more than 16 years experience in the pharmaceutical industry including at Sagent, an Illinois-based specialty drug company.

Under his leadership, Sagent was sold to Japan's largest generic drug manufacturer, Nichi-Iko Pharmaceutical Co. Ltd.

Oberman joined the Concordia board in October, as the company concluded a strategic review of options that was announced in April.

Thompson's role as chairman of Concordia's board will be filled by Jordan Kupinsky, who has been the board's lead independent director and a member of the board since 2013.