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Novartis Splits Chair and CEO Positions, Names Joe Jimenez CEO

Executive Summary

In a move that was somewhat abrupt, but hardly surprising, Novartis AG in late January announced that Joe Jimenez, who currently runs Novartis Pharma AG, would become the company's CEO, effective February 1. Long-time chairman and CEO David Vasella will remain as chairman. The announcement brings some closure to a process that began officially more than a year ago, as Novartis worked to get its succession planning right

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