Public Outcry Prompts Novartis To Cancel Vasella Non-Compete Deal
This article was originally published in The Pink Sheet Daily
Executive Summary
Novartis drops plan to pay outgoing chairman Daniel Vasella $78 million to stop him working for competitors, bowing to growing concerns in Switzerland over executive compensation.
You may also be interested in...
European Notebook: A Smooth Succession At Roche, EMA’s New Leadership Team, A Medicine Bank In Greece, Atorvastatin Price Drop In Ireland
Lufthansa's Christoph Franz will become Roche’s chairman next year; more restructuring details emerge from the European Medicines Agency; pharma companies donate medicines in Greece; Ireland names preferred medicines and aims to cut atorvastatin price.
European Notebook: Shake-Up At EMA, Restructuring At Pierre Fabre, Reinhardt Returns To Novartis
A new leadership team at EMA to be unveiled in September; the death of Pierre Fabre leads to management restructuring at France's third largest pharma; Reinhardt to review strategy as he replaces Vasella at the Swiss multinational, Novartis; and more…
Bayer’s Reinhardt Returning To Novartis To Replace Departing Vasella
Novartis says long-time chairman Daniel Vasella has decided to leave the Swiss drug maker and its board has chosen former COO and current Bayer healthcare division head Jorg Reinhardt to replace him.