Boehringer loses CFO over financial strategy dispute

pharmafile | December 18, 2017 | News story | Medical Communications, Sales and Marketing Boehringer, Boehringer Ingelheim, appointment, pharma 

Boehringer Ingelheim is set to part ways with its Chief Financial Officer Simone Menne after 16 months due to fundamental disagreements over strategy, it has emerged. The news comes sharply after another major pharma firm, Novartis, announced the departure of its President of Oncology.

“In discussions on the family company’s strategy over the course of the year it became obvious that the assessments and the concepts could not always be reconciled. Simone Menne has therefore decided to pursue her career outside the company,” the German firm said in a statement.

Tensions reportedly arose between Menne and Chief Executive Hubertus von Baumbach over the company’s decision not to pursue a stock market listing or enter the bond market.

Menne originally joined Boehringer in September 2016. She previously served as the first female CFO at airline Deutsche Lufthansa after a 25-year tenure with the company.

She will be replaced by Boehringer’s Global Head of Information Technology, Michael Schmelmer, who will step into the role and a position on the company’s management board on 1 January.

Matt Fellows

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