David Brennan to retire as ceo of AstraZeneca
Longest-standing chief executive to step down on June 1 after six years in post
AstraZeneca ceo and board member David Brennan has decided to retire on 1 June 2012. Executive director and chief financial officer Simon Lowth will act as interim ceo until a permanent successor is in place, and Julie Brown, vice president group finance, will become interim chief financial officer on the same date.
Brennan took up the position of ceo in January 2006 and is one of the longest serving chief executives in the pharma sector. ‘After more than six years as chief executive officer of this great company I have decided that now is the right time to step down and allow a new leader to take the reins,’ he said.
In a further change, Louis Schweitzer is also stepping down as non-executive chairman on 1 June, three months earlier than previously announced. He will be succeeded by Leif Johansson who, subject to approval by shareholders at the company’s Annual General Meeting, also becomes chairman of the Nomination and Governance Committee with immediate effect. This will enable Johansson to lead the selection process for Brennan’s successor including both internal and external candidates.