Novartis names Indian-origin Vasant Narasimhan as new CEO
Narasimhan succeeds Joseph Jimenez who will step down in 2018
after eight years in the position
Global pharma major
Novartis on Monday named Vasant Narasimhan as its new Chief Executive Officer
from February 1, 2018. He succeeds Joseph Jimenez who will step down in 2018
after eight years in the position, Novartis said in a statement.
Narasimhan is currently
Global Head of Drug Development and Chief Medical Officer of the company and is
also member of the Executive Committee of the company, it added.
Commenting on the
development, Novartis Board of Directors Chairman Joerg Reinhardt said: "We
anticipate a smooth transition as Joe built a strong leadership team and
mentored his successor. Novartis will be well positioned to continue its
momentum."
Both from a
professional and a personal perspective, this is the right moment to hand the
leadership reins of the company to Vas, Jimenez said.
Narasimhan has held
numerous leadership positions across Novartis in commercial, drug development
and strategy roles. Prior to his current role he served as Head of Development
for Novartis Pharmaceuticals, the company said.
"We will
continue our legacy of bringing leading innovation to patients around the
world. With our recent launches, our strong pipeline, broad capabilities,
world-class leadership team, and committed people, I am very confident about
our future", Narasimhan said.
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