Novartis announces the appointment of the Chairman-Designate of Sandoz Board of Directors " >Novartis announces the appointment of the Chairman-Designate of Sandoz Board of Directors

Feb 20, 2023
  • Gilbert Ghostine, CEO of the Swiss multi-national fragrances business Firmenich appointed Chairman-Designate of the future Sandoz Board
  • Mr Ghostine to begin role as Sandoz Chairman following the spin-off from Novartis

Basel, February 20, 2023 — Novartis Board of Directors announced today the appointment of Gilbert Ghostine as Chairman-designate of the new Board of Directors of Sandoz. Mr. Ghostine has served as CEO of Geneva-based Firmenich, the world's largest privately owned perfume and taste company, since 2014.

Gilbert Ghostine will become Chairman of the New Board of Directors of Sandoz, which will be formed following the spin-off from Novartis in the second half of 2023, subject to final Novartis Board of Directors and shareholder approvals. 

“I am excited to join Sandoz, the global market leader in off-patent medicines, as it prepares to spin off from Novartis. Listing Sandoz on the Zurich stock exchange would bring back a Swiss heritage company and an iconic brand in global healthcare. I am greatly looking forward to support Sandoz in its quest to further develop its business as the leading and most valued company in its space”, said Mr. Ghostine. 

Mr. Ghostine is an experienced business leader with a track record of growing and transforming businesses in competitive industries. He held executive and senior leadership positions at Firmenich and Diageo in a career spanning three decades. He currently serves on two boards of directors; at Danone, where he is a member of the audit committee, and at Four Seasons Hotels & Resorts, where he Chairs the Remuneration and Nomination Committee. He holds a master's degree in Business Administration from Saint Joseph University, Lebanon and completed Harvard Business School's Advanced Management Program.

Disclaimer
This media update 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 "potential," "can," "will," "plan," "may," "could," "would," "expect," "anticipate," "look forward," "believe," "committed," "investigational," "pipeline," "launch," or similar terms, or by express or implied discussions regarding potential marketing approvals, new indications or labeling for the investigational or approved products described in this media update, or regarding potential future revenues from such products. You should not place undue reliance on these statements. Such forward-looking statements are based on our 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 the investigational or approved products described in this media update will be submitted or approved for sale or for any additional indications or labeling in any market, or at any particular time. Nor can there be any guarantee that such products will be commercially successful in the future. In particular, our expectations regarding such products could be affected by, among other things, the uncertainties inherent in research and development, including clinical trial results and additional analysis of existing clinical data; regulatory actions or delays or government regulation generally; global trends toward health care cost containment, including government, payor and general public pricing and reimbursement pressures and requirements for increased pricing transparency; our ability to obtain or maintain proprietary intellectual property protection; the particular prescribing preferences of physicians and patients; general political, economic and business conditions, including the effects of and efforts to mitigate pandemic diseases such as COVID-19; safety, quality, data integrity or manufacturing issues; potential or actual data security and data privacy breaches, or disruptions of our information technology systems, 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 media update as of this date and does not undertake any obligation to update any forward-looking statements contained in this media update as a result of new information, future events or otherwise.

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About Sandoz
Sandoz, a Novartis division, is a global leader in generic pharmaceuticals and biosimilars. Our purpose is to pioneer access for patients by developing and commercializing novel, affordable approaches that address unmet medical needs. Our ambition is to be the world’s leading and most valued generics company. Our broad portfolio of high-quality medicines, covering major therapeutic areas, accounted for 2022 sales of USD 9.2 billion.

Sandoz on social media: 
LinkedIn: https://www.linkedin.com/company/sandoz
Twitter: https://twitter.com/sandoz_global
Facebook: https://www.facebook.com/sandozglobal/ 
Instagram: https://www.instagram.com/sandozglobal  

CEO Richard Saynor on LinkedIn: https://www.linkedin.com/in/richard-saynor/

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Source URL: https://www.sandoz.com/news/media-releases/novartis-announces-appointment-chairman-designate-sandoz-board-directors

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