Firmenich CEO Gilbert Ghostine to Lead Sandoz as Chairman-Designate of New Board of Directors

Firmenich CEO Gilbert Ghostine to Lead Sandoz as Chairman-Designate of New Board of Directors

(IN BRIEF) Gilbert Ghostine has been appointed as Chairman-designate of the new Board of Directors of Sandoz, following the announcement by Novartis Board of Directors. The new Board of Directors of Sandoz will be formed in the second half of 2023, subject to final Novartis Board of Directors and shareholder approvals. Mr. Ghostine is the current CEO of Firmenich, the world’s largest privately owned perfume and taste company, and brings over three decades of experience in executive and senior leadership positions. He has a track record of growing and transforming businesses and serves on two boards of directors. The appointment is expected to bring Mr. Ghostine’s extensive business leadership experience and expertise to the newly-formed company, enabling it to grow and transform in competitive markets.

(PRESS RELEASE) BASEL, 20-Feb-2023 — /EuropaWire/ —  Novartis (SWX: NOVN), a Swiss multinational pharmaceutical company, announces that Gilbert Ghostine has been appointed Chairman-designate of the new Board of Directors of Sandoz, following the announcement by Novartis Board of Directors. The new Board of Directors of Sandoz will be formed in the second half of 2023, subject to final Novartis Board of Directors and shareholder approvals.

Mr. Ghostine, currently CEO of Firmenich, the world’s largest privately owned perfume and taste company, brings over three decades of experience in executive and senior leadership positions at competitive industries. He has a track record of growing and transforming businesses, having previously held leadership roles at Diageo and Firmenich.

In addition to his current role at Firmenich, Mr. Ghostine serves on two boards of directors, including Danone, where he is a member of the audit committee, and 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 in Lebanon and completed Harvard Business School’s Advanced Management Program.

The appointment of Mr. Ghostine as Chairman of the New Board of Directors of Sandoz is expected to bring his extensive business leadership experience and expertise to the newly-formed company, enabling it to grow and transform in competitive markets.

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 “potential,” “can,” “will,” “plan,” “may,” “could,” “would,” “expect,” “anticipate,” “seek,” “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 press release, 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 press release 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 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 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. Find out more at https://www.Sandoz.com

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About Novartis
Novartis is reimagining medicine to improve and extend people’s lives. We deliver high-value medicines that alleviate society’s greatest disease burdens through technology leadership in R&D and novel access approaches. In our quest to find new medicines, we consistently rank among the world’s top companies investing in research and development. About 106,000 people of more than 140 nationalities work together to bring Novartis products to nearly 800 million people around the world. Find out more at https://www.novartis.com

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SOURCE: Novartis AG

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