Brennan bows to pressure and quits AstraZeneca
pharmafile | April 26, 2012 | News story | Business Services, Manufacturing and Production, Medical Communications, Research and Development, Sales and Marketing | AstraZeneca, David Brennan, Q1, pharma
AstraZeneca’s chief executive David Brennan is to step down from his post following mounting dissatisfaction with his leadership.
Brennan, who turns 60 next year, is to officially take early retirement from the role, but the decision has clearly been forced upon him. The company’s non-executive chairman Louis Schweitzer will also step down three months early on 1 June.
Chief financial officer Simon Lowth will act as interim chief executive from 1 June until a permanent successor is in place.
Leif Johansson will become chairman of the Nomination and Governance Committee after today’s Annual General Meeting.
The announcement coincides with the firm’s Q1 results, which show a decline in sales and profits for the period.
Revenue for the first quarter was $7.34 billion, down 11% at constant exchange rates, while core EPS was down 19% compared with the first quarter last year.
This period had benefited by $0.46 from two one-off gains – excluding these gains, Core EPS would have increased by 2 per cent.
Related Content

LGC Group opens $100M Organic Chemistry Synthesis Centre of Excellence
LGC Group, a life sciences company, has opened its new Organic Chemistry Synthesis Centre of …

NICE recommends Benralizumab for Rare Form of Vasculitis
The National Institute for Health and Care Excellence (NICE) has recommended AstraZeneca’s benralizumab (Fasenra) as …

NICE approves AstraZeneca’s dual immunotherapy for advanced liver cancer
AstraZeneca has received a positive recommendation from the National Institute for Health and Care Excellence …






