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Novartis announces leadership change

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Novartis CEO Joseph Jimenez will step down from the position in 2018, and Vasant Narasimhan, MD, has been appointed by the board of directors to succeed him, the company announced in a press release.

Jimenez joined Novartis in 2007 and began his tenure as CEO in 2010. He will step down from the CEO position effective Jan. 31, 2018, but will stay on for advice and support until his retirement on Aug. 31, 2018.

Narasimhan has been with Novartis since 2005, most recently serving as global head of drug development and chief medical officer. He previously worked at McKinsey & Company.

“The strength of Novartis is our ability to drive science-based innovation. Vas is deeply anchored in medical science, has significant experience in managing the interfaces between research and development and commercial units, and has strong business acumen with a track record of outstanding achievements,” Joerg Reinhardt, chairman of the board of directors, said in the release. “As a physician, he has a strong patient focus and a genuine humane perspective and care for the mission and values of Novartis.”