Daniel Vasella, Novartis
Basel, Switzerland (GenevaLunch) – Daniel Vasella will remain as chairman of the board of Novartis, Basel-based pharmaceutical multinational, but he is stepping down as the multinational’s CEO. The news was announced as Novartis reported an 8 percent increase in profits, $10.3 billion, and turnover of $46 billion for 2009.
Vasella has led the company since the group was created by the merger in 1996 of Ciba and Sandoz.
He has left an indelible mark, industry obervers notes, as the company has shed some industries, such as chemicals, in favour of new areas, such as eyecare, notably with the recent acquisition of Alcon.
He is the target of popular criticism in Switzerland every year for pulling in the country’s top salary, but he is also widely admired as a pioneer, notes Le Temps.
Joe Jimenez, an American and “relative newcomer” according to the Financial Times, steps into the CEO role.
Links to other sites: Financial Times, Le Temps (Fre), TSR (Fre) and Novartis press release on 2009 figures
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News story, GenevaLunch, 26 January 2010.
Filed under: Business
Tags: CEO, chairman of the boa, Ciba, Daniel Vasella, Novartis, Sandoz