Drugmaker Novartis announced 10 members to its newly formed Sandoz board of directors May 15 ahead of its previously announced biosimilar spinoff. The Sandoz spinoff is an effort the company is making to keep a competitive pace with rising costs of brand name drugs.
According to the company's press release, 40 percent of its newly announced board members are women. The board will have three subcommittees that oversee science, innovation and development, human capital and environmental, social governance, and audits, risks and compliance.
"I am delighted to see our new board members join Sandoz," Gilbert Ghostine, chairman-designate of Sandoz said in a statement. "The composition of this new world-class board and the capabilities of its leaders is in line with the Sandoz aspiration as a market leader in its industry. I am looking forward to working with the new board to help set the strategic direction for Sandoz and support its future development."
In addition to the chairman-designate, Sandoz's other appointed board members are:
- Aarti Shah, PhD, former chief information and digital officer and senior vice president at Eli Lilly
- Maria Varsellona, chief legal officer at Unilever
- Remco Steenbergen, CFO of Deutsche Lufthansa
- Yannis Skoufalos, former global product supply officer at Procter and Gamble
- Shamiram Feinglass, MD, former chief medical officer for Life Sciences and Diagnostics
- Urs Riedener, former CEO of EMMI Group, a Swiss consumer goods company
- François-Xavier Roger, CFO of Nestlé S.A.
- Karen J. Huebscher, former CEO of Solvias Group, a Swiss contract research firm
A final, unnamed member has also been pre-selected and will reportedly be nominated for election to the board at Sandozs' Annual General Meeting of Shareholders in 2024.