AstraZeneca names new chief executive officer

AstraZeneca has announced the appointment of Pascal Soriot as its new chief executive officer (CEO), effective as of October 1st 2012.

Mr Soriot joins the group from Roche, where he served as chief operating officer for the company's pharmaceutical division since 2010, while he is also the former CEO of Genentech and played a key role in the successful merger between the firms.

He has been working in pharmaceutical industry roles since 1986 and has an extensive track record of success spanning senior management positions in the US, Europe and Asia.

Simon Lowth will remain as interim chief executive of AstraZeneca until Mr Soriot takes over full-time, at which point Mr Lowth will resume his responsibilities as chief financial officer.

Leif Johansson, chairman of AstraZeneca, said: "I am confident that Pascal's approach and his track record of delivering results in innovation-driven businesses will be valued by shareholders and employees alike."

Mr Lowth has served in the interim leadership role since former AstraZeneca CEO David Brennan retired from the firm in June 2012.