Novartis Names Chairman-Designate of Sandoz
Novartis has named Gilbert Ghostine, current CEO of Firmenich, a Geneva-based perfume and taste company, as Chairman-designate of the new Board of Directors of Sandoz, the generics and biosimilar business of Novartis, which Novartis is spinning off. He will take over as Chairman following the spin-off of Sandoz from Novartis, which is expected to be completed in the second half of 2023, subject to final Novartis Board of Directors and shareholder approvals.
Ghostine has served as CEO of Firmenich since 2014. He held executive and senior leadership positions at Firmenich and Diageo, a London-based alcoholic beverage company, in a career spanning three decades. He currently serves on two boards of directors: at Danone, a Paris-based food company, where he is a member of the audit committee, and at Four Seasons Hotels & Resorts, a Toronto, Ontario, Canada-based hospitality company, where he chairs the remuneration and nomination committee.
Novartis had announced in April 2022 its plans to spin off Sandoz into a new publicly traded stand-alone company, The spin-off is expected to be completed in the second half of 2023, subject to final Novartis Board of Directors and shareholder approvals. The stand-alone Sandoz would be headquartered in Switzerland and be listed on the SIX Swiss Exchange, with an American Depositary Receipt (ADR) program in the US.