Novartis: Vasant Narasimhan
Novartis has announced CEO Joseph Jimenez will be stepping down as of next year, to be replaced by current global head of drug development and chief medical officer, Vasant Narasimhan.
Narasimhan, who joined Novartis in 2005, will commence the role February 1, 2018.
After eight years of service as Novartis CEO, Jimenez said he will be available for advice and support at the request of the chairman of the board of directors or the CEO until he retires from Novartis on August 31, 2018.
“Both from a professional and a personal perspective, this is the right moment to hand the leadership reins of the company to Vas [Vasant]. Our strong pipeline and the strategic moves we have taken to focus the company have put Novartis on a strong path for the future,” said Jimenez.
Narasimhan’s previous experience includes his position as head of development for Novartis Pharmaceuticals, and employment at management consultancy firm McKinsey & Company.
Reinhardt said Narasimhan’s previous industry experience will serve him well in the new role.
“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,” he said.
“The Board of Directors is confident that Vas is the right choice to lead Novartis on our expected next growth phase, driving innovation and further strengthening our competitive position," he added.
Narasimhan holds a bachelor’s degree in biological sciences from the University of Chicago and obtained his medical degree from Harvard Medical School. He also received a master’s degree in public policy from Harvard’s John F. Kennedy School of Government.