Public Outcry Prompts Novartis To Cancel Vasella Non-Compete Deal
This article was originally published in The Pink Sheet Daily
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.
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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.