AstraZeneca PLC (LON:AZN) has announced the appointment of Michel Demaré as the Chair-designate of the Board.
His appointment followed a robust succession planning process led by Philip Broadley in his capacity as senior independent Non-Executive Director.
As previously communicated, Leif Johansson, current Chair of the Board of AstraZeneca will be retiring at the conclusion of the Company’s Annual General Meeting in April 2023. Michel’s appointment will take effect immediately on Leif’s retirement allowing for a managed handover period over the coming months.
Michel was appointed to the Board of AstraZeneca in September 2019 as an independent Non-Executive Director and is currently Chair of the Company’s Remuneration Committee and member of the Audit Committee and the Nomination and Governance Committee. He is a Non-Executive Director of Vodafone Group Plc and Louis Dreyfus Int’l Holdings BV. He is also Chairman of IMD Business School and Chairman of Nomoko AG.
Leif Johansson, AstraZeneca Chair said: “I am delighted that Michel will succeed me following the 2023 AGM. He is an internationally respected leader with extensive experience in strategy, planning, execution, governance and corporate stewardship and a proven track record leading multinational companies, as well as experience of the pharmaceutical industry gained at Baxter and as a member of the AstraZeneca Board. I look forward to undertaking a comprehensive handover in the coming months and to seeing the continued development and success of AstraZeneca.”
Michel Demaré, AstraZeneca Chair-designate said: “I could not be prouder to be named Chair-designate of the Board of AstraZeneca and am excited to have the opportunity to build on Leif’s success as Chair and work with Pascal and members of the Board and Senior Executive Team when I take on my new role in 2023.”
Biography and photograph:
Effective 1 May 2023, the fee for the Chair of the Board will be £800,000 per annum, paid wholly in cash. The Chair’s fee was last increased in January 2018.