Vasant Narasimhan will happen to Joseph Jimenez from the 1st of February to the front of the biggest european pharmaceutical company.

Novartis AG has announced the output by the surprise of its chief executive officer (CEO) Joseph Jimenez after 8 years at the head of the large european pharmaceutical.

Vasant Narasimhan, chief medical officer and global head of drug development, happen to Jimenez from the next February 1, as announced by the company in a comunicado. Jimenez, a 57-year-old, will retire at the end of January and will be installed with his family in Silicon Valley after spending 10 years in Switzerland.

“The Board of Directors is confident that you’re Going is the right option to lead to Novartis our next phase of growth, to drive innovation and further strengthening our competitive position” said the chairman Joerg Reinhardt.

For his part, Joseph Jimenez has stated: “I have been CEO for 8 years and I was very transparent about the fact the point that a CEO should not stay much longer than that. One enters, sees what he wants to change, change it and then it’s time to pass the baton on to a successor”.

The actions of Novartis is fell 0.4% to 80,50 swiss francs following the announcement.

In the second quarter of the year, the company recorded a decline of its benefits compared to the forecasts of the analysts. The company is now giving a boost to your business contemplating a spin-off or an Initial Public Offering (IPO) for its division Alcon, specialized in the care of the eyes.