Novartis announces change in Sandoz leadership
Novartis announced that Richard Francis will be stepping down as CEO of Sandoz, a Novartis division, and as a member of the Executive Committee of Novartis on March 31, 2019. Francesco Balestrieri, currently Region Head Europe, Sandoz, has been appointed ad-interim CEO Sandoz. He will report to Vas Narasimhan, CEO, Novartis.
Vas Narasimhan said; "I would like to thank Richard for his strong leadership of Sandoz over the past five years. During his tenure, Sandoz has consolidated its position as a global leader in Biosimilars and he and his team have successfully navigated the business through changing market dynamics and challenging headwinds in the US. Now, as we initiate a multi-year transformation program for the business and move to make it more autonomous, Richard has decided that for personal reasons he cannot commit to stay with Sandoz until the transformation is completed. I understand his decision and wish him the very best for the future."
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