Pascal Soriot appointed CEO

RNS Number : 8399K

AstraZeneca PLC

28 August 2012

 

PASCAL SORIOT APPOINTED CHIEF EXECUTIVE OFFICER
OF ASTRAZENECA

AstraZeneca today announced that Pascal Soriot has been appointed as the company's Chief Executive Officer. Pascal Soriot will take on his new responsibilities and join the AstraZeneca PLC Board as an Executive Director on 1 October 2012.

Simon Lowth will remain as AstraZeneca's Interim Chief Executive Officer until Pascal Soriot joins. At that point, Simon Lowth will resume his responsibilities as Chief Financial Officer and will continue to serve as an Executive Director on the AstraZeneca PLC Board.

A French national, 53 year old Pascal Soriot joins AstraZeneca from Roche AG where he has served as Chief Operating Officer of the company's pharmaceuticals division since 2010. In his current role he has global responsibility for development, manufacturing, commercial operations and administration for a pharmaceuticals business that recorded sales of $34 billion in 2011 and has approximately 44,000 employees worldwide. Prior to that Pascal Soriot was Chief Executive Officer of Genentech, where he was credited with leading the successful merger between the San Francisco-based biologics business and Roche. Pascal Soriot joined the pharmaceutical industry in 1986 and has worked in senior management roles in the US, Asia and Europe.

Pascal Soriot said: "I am excited and honoured to have been asked to lead AstraZeneca. Throughout my career I have had enormous respect for the people of AstraZeneca and what they have achieved. No-one is blind to the challenges that confront the pharmaceutical sector and this company, but the underlying strengths of AstraZeneca in delivering on its strategy are clear. AstraZeneca will continue to make a positive difference to patients over the longer term and I'm looking forward to playing my part in shaping that future."

Leif Johansson, Chairman of AstraZeneca PLC, commented: "This is a key appointment at an important time for AstraZeneca and we are certain that Pascal's leadership qualities combined with his strategic thinking and relevant experience make him the right person to drive the company to success over the coming years. I am confident that Pascal's approach and his track record of delivering results in innovation-driven businesses will be valued by shareholders and employees alike."

"The Board would like to record its appreciation for the excellent job done by Simon Lowth as interim CEO and his impressive leadership in this period. Supported by a highly capable and committed executive team, Simon has maintained the organisation's focus on key business priorities during a period of significant change for the company."

No disclosure obligations arise under paragraphs (1) to (6) of LR 9.6.13 R of the UK Listing Authority's Listing Rules in respect of this appointment.

About Pascal Soriot

2006-2012       Roche Holding AG, Basel

                        Chief Operating Officer, Head of Pharmaceuticals

                        Chief Executive Officer, Genentech

                        Head of Commercial Operation

                        Head of Global Strategic Marketing

1986-2005       Sanofi-Aventis, INC, New York, Tokyo, Sydney, Paris

                         Chief Operating Officer, US Commercial, Aventis

                        Senior Vice President, Global Marketing & Medical Affairs, Aventis

                        Vice President, Asia-Pacific Region, Hoechst Marion Roussel, Japan

                        Managing Director, Hoechst Marion Roussel, Australia

                        Global Marketing Director, Roussel UCLAF Pharmaceutical Division, Paris

                         Managing Director, Roussel Australia/New Zealand

Financial Controller, Asia Pacific Region, Pharmaceutical Division, Roussel UCLAF, Paris

Prior to his commercial career, Pascal Soriot practiced as a veterinarian. He holds an MBA with a major in finance from HEC Paris.

To obtain a photograph of Pascal Soriot please visit www.astrazeneca.com/media/photo-library or contact the media team (details below).

About AstraZeneca

AstraZeneca is a global, innovation-driven biopharmaceutical business with a primary focus on the discovery, development and commercialisation of prescription medicines for gastrointestinal, cardiovascular, neuroscience, respiratory and inflammation, oncology and infectious disease. AstraZeneca operates in over 100 countries and its innovative medicines are used by millions of patients worldwide. For more information please visit: www.astrazeneca.com

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28 August 2012

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