Global pharmaceutical giant AstraZeneca, which has a major UK presence, has appointed a new chair-designate of the board.
Michel Demaré’s confirmation in the role followed a “robust succession planning process” led by Philip Broadley in his capacity as senior independent non-executive director.
Current chair Leif Johansson will be retiring at the conclusion of the company’s Annual General Meeting in April 2023, with Demaré’s appointment set to take effect immediately, allowing for a managed handover period over the coming months.
Demaré was appointed to the board of AstraZeneca in September 2019 as an independent non-executive director and is currently chair of the company’s Remuneration Committee and a member of the Audit Committee and the Nomination and Governance Committee.
He said: “I could not be prouder to be named chair-designate of the board of AstraZeneca and am excited to have the opportunity to build on Leif’s success as chair and work with Pascal and members of the board and senior executive team when I take on my new role in 2023.”
Johansson added: “I am delighted that Michel will succeed me following the 2023 AGM. He is an internationally respected leader with extensive experience in strategy, planning, execution, governance and corporate stewardship and a proven track record leading multinational companies, as well as experience of the pharmaceutical industry gained at Baxter and as a member of the AstraZeneca board.
“I look forward to undertaking a comprehensive handover in the coming months and to seeing the continued development and success of AstraZeneca.”
Elsewhere, AstraZeneca reported a 48 per cent half-year revenue increase to $22.1bn during what was a strong period for the listed multinational.