SANDOZ has taken the next steps to prepare for its planned listing on the Swiss Stock Exchange.
The Novartis Board of Directors has approved the recommendations of the Sandoz Chairman-designate, Gilbert Ghostine, on the structure of the proposed Sandoz Board of Directors and has nominated all of its future members.
The Sandoz Board of Directors, will have 10 members in total and three sub-committees called Science, Innovation & Development, Human Capital & ESG and an Audit, Risk and Compliance Committee.
The Sandoz Board will start preparatory work from next month, and will effectively be following the planned spin-off of Sandoz in the second half of this year, subject to the Novartis Board of Directors and shareholders' approval.
The new board members include Dr Karen J. Huebscher, non-executive board member in many companies, institutions and former CEO of Solvias Group; Franois-Xavier Roger, Chief Financial Officer of Nestl S.A; Urs Riedener, past CEO of Swiss company EMMI Group; Dr Shamiram R. Feinglass, most recently Chief Medical Officer, Danaher; Aarti Shah, former Chief Information and Digital Officer & Senior Vice President at Eli Lilly; Yannis Skoufalos, former Global Product Supply Officer at Procter & Gamble; Remco Steenbergen, Chief Financial Officer of Deutsche Lufthansa; Dr Maria Varsellona, Chief Legal Officer and Company Secretary at Unilever, plus one more person who will be nominated at next year's AGM.
In total, four out of 10 members of the new Sandoz Board of Directors will be female.
Chairman-designate Ghostine shared "I am delighted and looking forward to working with the new board to help set the strategic direction for Sandoz and support its future development".
The above article was sent to subscribers in Pharmacy Daily's issue from 16 May 23
To see the full newsletter, see the embedded issue below or CLICK HERE to download Pharmacy Daily from 16 May 23