AstraZeneca CEO Designate Brennan Will Take Reins From McKillop In 2006
This article was originally published in The Pink Sheet Daily
Selection of U.S. head David Brennan to succeed retiring CEO Tom McKillop was the result of a search that focused on internal candidates.
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With the longtime CEO stepping down as of June 1, his successor will assume the challenge of handling generic challengers to several mature blockbuster products and the slow launch of Brilinta. The current business-development strategy, as reflected in a recent partnership and acquisition, is expected to stay in place for now.
The British financial press speculates that McKillop could depart to become chairman of the Royal Bank of Scotland, but the bank says its current chairman could stay on for an additional five years. AstraZeneca board and McKillop have reached a new contract that would extend his employment beyond 2005, company says.
A possible settlement between Merck and tax authorities could be significantly smaller than GlaxoSmithKline's recent settlement with the IRS based on the companies' projected liability