Novartis Outlines Management Changes Post Closing of Deals with GSK and Eli Lilly
Novartis reports that following completion of the transactions with GlaxoSmithKline (GSK) and Eli Lilly and Company in the coming months, that the three business leaders of the Novartis divisions at the center of the transaction will leave the Executive Committee of Novartis (ECN). The expected changes to the ECN are subject to the closing of the transactions announced on April 22, 2014. In that announcement, GSK and Novartis announced the creation of proposed joint venture combining the consumer healthcare businesses of Novartis and GSK. The deal was part of a three-part transaction between the two companies, which further included Novartis acquiring GSK's oncology products and divesting its vaccine business (excluding flu) to GSK and Novartis divesting its animal health business to Eli Lilly. Novartis expects the transaction with GSK to be completed in the first half of 2015, and the transaction with Eli Lilly for its animal health business to close in the first quarter of 2015.
George Gunn, currently division head, Novartis Animal Health, will reach his contractual retirement age in July 2015 and will retire from Novartis. Upon closing of the animal health transaction with Lilly he will leave the ECN.
Brian McNamara, currently division dead, Novartis OTC, will transition to GSK as Head of Americas and Europe for the consumer health businesses, reporting to the president of GSK Consumer Healthcare, effective at closing of the transaction.
Andrin Oswald, currently division head, Novartis Vaccines, will be leaving Novartis to pursue other opportunities following closing of the transaction with GSK.
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Source: Novartis
