Novartis announces CEO Joseph Jimenez to retire from Novartis in 2018. Vasant Narasimhan appointed CEO, effective February 1, 2018.

ID: 1519551
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(Thomson Reuters ONE) -
Novartis International AG /
Novartis announces CEO Joseph Jimenez to retire from Novartis in 2018. Vasant
Narasimhan appointed CEO, effective February 1, 2018.
. Processed and transmitted by Nasdaq Corporate Solutions.
The issuer is solely responsible for the content of this announcement.

Basel, September 4, 2017 - Joseph Jimenez, Chief Executive Officer (CEO) of
Novartis, has informed the Board of Directors of his desire to step down as CEO
in 2018, after eight years in position. The Board of Directors has appointed
Vasant (Vas) Narasimhan, M.D., Global Head of Drug Development and Chief Medical
Officer, as CEO of Novartis, effective February 1, 2018. Dr. Narasimhan is a
member of the Executive Committee and joined Novartis in 2005.

Mr. Jimenez, who has been CEO since 2010, joined the company in 2007. He first
led the Consumer Health Division, and then held the position of Division Head,
Novartis Pharmaceuticals. Mr. Jimenez will step down as CEO, effective January
31, 2018, and will be available for advice and support at the request of the
Chairman of the Board of Directors or the CEO until he retires from Novartis on
August 31, 2018.

Joerg Reinhardt, Chairman of the Novartis Board of Directors, commented, "I
would like to express my sincere appreciation for Joe''s achievements as CEO.
During his tenure, Joe focused Novartis on leading global businesses, while
divesting non-core divisions. Under his leadership the innovation pipeline was
rejuvenated, and we successfully navigated the patent expirations of our two
largest products. We anticipate a smooth transition as Joe built a strong
leadership team and mentored his successor. Novartis will be well positioned to
continue its momentum."

Mr. Jimenez said, "Both from a professional and a personal perspective, this is
the right moment to hand the leadership reins of the company to Vas. Our strong


pipeline and the strategic moves we have taken to focus the company have put
Novartis on a strong path for the future. On the personal side, after 10
wonderful years in Switzerland, my family is ready to return to Silicon Valley
and the US. I''m confident that Vas will be an excellent successor."

Dr. Narasimhan has held numerous leadership positions across Novartis in
commercial, drug development and strategy roles. Prior to his current role he
served as Head of Development for Novartis Pharmaceuticals. Before joining
Novartis in 2005, he worked at McKinsey & Company. He received his medical
degree from Harvard Medical School in the US and obtained a master''s degree in
public policy from Harvard''s John F. Kennedy School of Government. In addition,
he holds a bachelor''s degree in biological sciences from the University of
Chicago, also in the US. During and after his medical studies, he worked
extensively on a range of health issues in developing countries. Dr. Narasimhan
is an elected member of the US National Academy of Medicine. He is a US citizen
born in 1976, married with 2 children, and lives in Basel, Switzerland.

Mr. Reinhardt added, "The strength of Novartis is our ability to drive science-
based innovation. Vas is deeply anchored in medical science, has significant
experience in managing the interfaces between Research and Development and
commercial units and has strong business acumen with a track record of
outstanding achievements. As a physician, he has a strong patient focus and a
genuine humane perspective and care for the mission and values of Novartis. As a
result, the Board of Directors is confident that Vas is the right choice to lead
Novartis on our expected next growth phase, driving innovation and further
strengthening our competitive position."

Dr. Narasimhan said, "I would like to congratulate Joe and express my gratitude
to Joe, Joerg, and the Board of Directors. I feel honored and humbled to be
asked to lead Novartis. We will continue our legacy of bringing leading
innovation to patients around the world. With our recent launches, our strong
pipeline, broad capabilities, world-class leadership team, and committed people,
I am very confident about our future."

Disclaimer
This press release contains forward-looking statements within the meaning of the
United States Private Securities Litigation Reform Act of 1995. Forward-looking
statements can generally be identified by words such as "to retire,"
"effective," "will," "pipeline," "anticipate," "well positioned," strategic,"
"future," "confident," "next growth phase," "driving," "strengthening,"
"launches," "committed," or similar expressions, or by express or implied
discussions regarding potential potential future sales or earnings of the
Novartis Group. You should not place undue reliance on these statements. Such
forward looking statements are based on our the current beliefs and expectations
regarding future events, and are subject to significant known and unknown risks
and uncertainties. Should one or more of these risks or uncertainties
materialize, or should underlying assumptions prove incorrect, actual results
may vary materially from those set forth in the forward looking statements.
There can be no guarantee that Novartis will be commercially successful in the
future, or achieve any particular financial results. In particular, our
expectations could be affected by, among other things: regulatory actions or
delays or government regulation generally; the potential that the strategic
benefits, synergies or opportunities expected from the significant
reorganizations of recent years may not be realized or may take longer to
realize than expected; the uncertainties inherent in the research and
development of new healthcare products; our ability to obtain or maintain
proprietary intellectual property protection on key products; safety, quality or
manufacturing issues; global trends toward health care cost containment,
including government, payor and general public pricing and reimbursement
pressures; uncertainties regarding actual or potential legal proceedings; and
other risks and factors referred to in Novartis AG''s current Form 20-F on file
with the US Securities and Exchange Commission. Novartis is providing the
information in this press release as of this date and does not undertake any
obligation to update any forward-looking statements contained in this press
release as a result of new information, future events or otherwise.

About Novartis
Novartis provides innovative healthcare solutions that address the evolving
needs of patients and societies. Headquartered in Basel, Switzerland, Novartis
offers a diversified portfolio to best meet these needs: innovative medicines,
cost-saving generic and biosimilar pharmaceuticals and eye care. Novartis has
leading positions globally in each of these areas. In 2016, the Group achieved
net sales of USD 48.5 billion, while R&D throughout the Group amounted to
approximately USD 9.0 billion. Novartis Group companies employ approximately
119,000 full-time-equivalent associates. Novartis products are sold in
approximately 155 countries around the world. For more information, please visit
http://www.novartis.com.

For a portrait of Dr. Narasimhan, please visit
https://www.novartis.com/news/media-library/vasant-vas-narasimhan-md
Novartis is on Twitter. Sign up to follow (at)Novartis at
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# # #

Novartis Media Relations
Central media line: +41 61 324 2200
E-mail: media.relations(at)novartis.com

Paul Barrett Markus Jaggi
Novartis Global Media Relations Novartis Media Relations Switzerland
+41 61 324 7999 (direct) +41 61 324 9577 (direct)
+41 79 797 8137 (mobile) +41 79 673 7433 (mobile)
paul.barrett(at)novartis.com markus.jaggi.(at)novartis.com

Eric Althoff Satoshi Sugimoto
Novartis Global Media Relations Novartis Media Relations Switzerland
+41 61 324 7999 (direct) +41 61 324 6129
+41 79 593 4202 (mobile) +41 79 619 2035
eric.althoff(at)novartis.com satoshi_jean.sugimoto(at)novartis.com

Antonio Ligi
Novartis Global Media Relations
+41 61 324 1374 (direct)
+41 79 723 3681 (mobile)
antonio.ligi(at)novartis.com




Novartis Investor Relations
Central investor relations line: +41 61 324 7944
E-mail: investor.relations(at)novartis.com

Central   North America

Samir Shah +41 61 324 7944 Richard Pulik +1 212 830 2448

Pierre-Michel Bringer +41 61 324 1065 Cory Twining +1 212 830 2417

Thomas Hungerbuehler +41 61 324 8425

Isabella Zinck +41 61 324 7188



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Source: Novartis International AG via GlobeNewswire






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Date: 09/04/2017 - 01:00
Language: English
News-ID 1519551
Character count: 10305
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